CP DICTIONARY | Cool Maritime

This type of freight rate is to be found in the liner trade. Anniversary Date – This refers to the hour and date the ship is delivered to the charterer and, ... CoolMaritime NewYork Singapore Istanbul London CoolMaritime CPdictionary A B C D E F G H I J K L M N O P R S T U V W   AA–AlwaysAccessibleorAlwaysAfloat–TerminCharter-Partywhichstipulatesthatthecharterermustnotordertheshiptoaportorberthwhereshewouldtouchthebottomorperhapsbeunavailableatanytimeduetotidalvariations.   AAAA–Alwaysaccessiblealwaysafloat.   A/C–Account–Thistermisusedwhenreferringtoabankaccountandwhenallocatingcosts,suchasinthephrase“forthea/cofcharterers”.   ABS–AmericanBureauofShipping.   ABT–About–Aconditionaltermusedinqualifyingcargo,time,bunkersorspeed:whendiscussingcargo.“about”usuallycoversamarginof5%eitherway(i.e.25,000LT5%moreorless,atowner’soption),whenreferringtoaperiodoftime:usually15days,althougheachcaseisconsideredonitsownmerit.Inconnectionwithbunkers,“about”hasbeeninterpretedtomean5%latitude;regardingspeed,thetoleranceisgenerallyonehalfknot.   AccomplishedBillofLading–OriginalBillofLadingwhichhasbeensurrenderedtothecarryingshipatthedischargeportinexchangeforthegoods.   A/EorACC/EXC–Accept/Except–Termusedbyeithertheshipowner’sbrokerortheprospectivecharterer’sbrokerduringthenegotiationsforthecharterofashiptosignifythatanofferorcounter-offerisacceptedapartfromcertainclausesordetails.Thesearethenlistedtogetherwiththeamendmentssought.   ADVALFRT–AdValoremFreight–Freightcalculatedonthevalueofthegoods,expressedasapercentagethereof.   Addcom–AddressCommission–Commissionpayablebytheshipownertothecharterer.Thereasonforthissystemissometimessaidtobethatthecharterer’sshippingdepartmentforbookkeepingpurposesmustshowsomekindofincomefromtheiractivities.Statetradingcountriesregularlyincludea5%addresscommissionintheirorders.   AdditionalDemurrage–Amountofmoneypaidtotheshipownerbythevoyagecharterer,shipperorreceiver,asthecasemaybe,forfailingtocompleteloadingordischargingbeforetheagreedperiodoffreetimehasexpired.ThedailyrateofadditionaldemurrageisagreedintheCharter-Party.   AdditionalFreight–Extrachargeimposedinaccordancewiththecontractofcarriagebyashippinglineontheshipper,receiverorBillofLadingholder,asthecasemaybe,foradditionalexpensesincurredindischargingthecargo.Thischargegenerallyapplieswhentheportstipulatedinthecontractisinaccessibleorwhenthedischargetherewouldresultinunreasonabledelaytotheship:underthesecircumstances,theshippinglinemayhaveanoptionunderthecontractofcarriagetoproceedtoanotherportofdischargethecargowhereextracostsmaybeincurred.   “Adopted”Charter–Ifacharter“agreed”inthatwayfollowingnegotiationsbetween,forinstance,BIMCOandoneormoregroupsrepresentingcharterersisofficiallysupportedbyanotherassociationofshipowners,forinstance,theChamberofShippingoftheUnitedKingdom,itisstatedthattheChamberofShippingoftheUnitedKingdomhas”adopted”thecharter;orontheotherhand,ifBIMCOwantstosupportoneortheothercharternegotiatedand“agreed”betweentheChamberofShippingoftheUnitedKingdomandoneormoregroupsofcharterers,thenitisstatedthatthecharterhasbeenadoptedbyBIMCO.Moreover,adocumentissuedbyanorganizationofshipowners,forinstanceINTERTANKO,foruseinaspecialtradewithouthavingactuallybeen“agreed”withanyparticulargroupofcharterers,maybeadoptedbyBIMCO.Anadopteddocumentiscompulsoryforthemembersoftheorganizationwhohaveadopteditifitisan“agreed”document.   AdvanceFreight–Freightpayableatatimeagreedbytheshipownerandtheshipper,beforethegoodsaredeliveredattheplaceofdestinationinthecontractofcarriage.   AdvanceonFreight–Moneyadvancesbytheshippertothemasterofashiptopayforhisdisbursementswhileinport.Itisoftenrepaidbydeductionfromfreight.   Affreightment–Thehiringofaship,thetermmayalsosometimesbeusedtodescribeacontractforaseriesofvoyages.   AG–ArabianGulf(usedwhenvesselsareproceedingtoArabianports).   AgencyClause–ClauseinCharter-Party,whichstipulateswhethertheship’sagentattheloadingand/ordischargingportsaretobenominatedbytheshipownerorthecharterer.   AgencyFee–Feepayablebytheshipownerorshipoperatortoaportagent,whosedutiesmayincludearrangingaberthwiththeportauthority,orderingpilots,tugsandlabor,enteringtheshipinatCustomsandcollectingfreight.   “Agreed”Charter–ThecharterhasbeenagreedbetweenBIMCO(orTheChamberofShippingoftheUnitedKingdomorCorniteCentraldesArmateursdeFranceorotherassociationsofshipowners)withoneoremoregroupsofcharterersorotherinstitutions(forinstance,thePolishCoalCharterCommittee,theTimberTradeFederationoftheUnitedKingdom,theSyndicatNationalduCommerceExterieurdeCereales,ParisorCMEA,Moscow).Theprintedconditionsofan“agreed’chartermustnotbealteredordeletedwithouttheexpressapprovaloftheorganizationswhohaveagreedthecharter,An“agreed”documentiscompulsoryforthetradeforwhichitisintended,e.x.thesugartrade.   AGW–Allgoingwell.   AllinRate–Freightratewhichisinclusiveofallsurchargesandextras.Thistypeoffreightrateistobefoundinthelinertrade.   AnniversaryDate–Thisreferstothehouranddatetheshipisdeliveredtothechartererand,therefore,hireispaidfromthatdate,eithersemi-monthly,monthly,orper30days,throughtheendofthecharterperiod.Thisisespeciallyimportantwhennegotiatingforanextension,orwhen‘fixing”indirectcontinuation.   AP–AllPurposes–Timeallowedinavoyagecharterforloadinganddischargingcombined,expressedasanumberofdaysandhours.Alsoreferredtosimplyaspurposes.   “Approved”Charter–thisistheexpressionusedforcharters–whether“agreed”,“adopted”or“recommended”.   APS–ArrivalPilotStation–Locationoftenusedastheplaceofdeliveryofashipbytheshipownertothechartereratthecommencementofatimecharter.Thehirechargecommencesfromthetimeofarrivalunlesstheshiparrivespriortothefirstofthelaydays.Insuchacase,thehirechargecommencesatthebeginningofthefirstlaydayorsoonerattheoptionofthecharterer.   ArbitrationClause–Clauseinacontract,suchasCharter-Party,whichstipulatesthatanydisputebetweenthepartiesarisingfromthecontractberesolvedbyarbitration.Theclausealsospecifiestheplacewherethearbitrationistobeheld,thenumberofarbitratorsandtheirqualifications,andtheprocedureshouldonepartyfailtonominateanarbitrator.   ArrivedShip–Requirementofallvoyagechartersthattheshipmusthavearrivedbeforelaytimecancommence.Wherethechartererhasnominatedaberthordock,theshipmusthavearrivedatthatberthordock.Whenaportisnominated,theshipmusthavearrivedatthepodinthiscontextincaseswherethereisnoberthavailableandtheshipisobligedtowait,avesselisan“arrivedship”assoonasthefollowingconditionshavebeenmet: Thevesselmusthavearrivedattheloadingordischargingberthorportasstipulatedinthecharter. Thevesselmustbefullypreparedtoloadordischarge. Noticeofreadinessinwriting,asprescribed,musthavebeengiventoshippersorconsignees. Ifberthnominatedbycharterisnotavailable,thenvesselcanbeconsidered“arrived”whenNORistendered.   ASBA–AssociationofShipBrokersandAgents(USA),Inc.,NewYork.   AsAgentOnly–FormofwordsusedwithasignaturetoaCharter-PartyorBillofLadingtoindicatethatthepartysigningisdoingsomerelyonbehalfofaprincipal,whetheristobethemaster,ownerorchartereroftheship,andhasnorightsorliabilitiesunderthecontractofcarriage.   Asis–Intheconditioninwhichthesubjectmatteris.Thisexpressionisusedwhengoods,oraship,areofferedforsalewithoutrepairorrectification.   Asis,Whereis–Intheconditioninwhichthesubject-matterisandattheplacewhereitislying.Thisexpressionisusedwheregoodsoraship,areofferedforsalewithoutrepairorrectificationandwithdeliverytothepurchaserbeingattheplacewherethegoodsarelying.   ATS–AllTimeSaved:termusedinavoyagecharterpartytodefineonemethodbywhichdespatchmoneyiscalculated,thatis,bydeductingtimeusedforloadingand/ordischarging,asthecasemaybe,fromatheoreticaltimeuptotheexpiryoflaytimewhichincludesexceptedperiods,forexampleacharterermaybeallowed10daysforloading.Hecalculatestheexpiryoflaytimetaking,accountofexceptedperiodssuchasweekends,andarrivesatatheoreticalnumberofcalendardays,say15.Shouldheonlyusefourlaydaystoload,heisentitledtoIIdaysdespatchmoney.   ATDN–AnyTimeDayorNight–TermusedinatimeCharter-Partytosignifythattheshipownermaydelivertheshiporthatthecharterermayredelivertheship,asthecasemaybe,atanytimeofthedayornightandnotnecessarilyduringnormalworkinghours.ThistermisveryoftenfollowedbySHINC(Sundaysandholidaysincluded).   AveragetoLaytime–Asavoyagecharterer,tooffsetthetimeusedinloadingcargoagainstthatusedindischargingforthepurposeofcalculatingdemurrageordespatch.If,forexample,achartererearnsfivedaysdespatchattheloadingportbutthereisaperiodofthreedaysdemurrageatthedischargingport,thechartererhasanetclaimfortwodaysdespatchmoney.   BacktoBackCharter–Contractbetweenachartererandasubchartererwhosetermsandconditionsareidenticaltothecontract,knownastheheadcharter,betweenthechartererandtheshipowner.Thepurposeofagreeingidenticaltermsistoensurethatanymoneyforwhichthecharterermaybeliabletointhesub-charter,forexampledespatchmoney,isrecoverablefromtheshipowner.   Backfreight–FreightpayabletoashipownerforthecarriageofgoodsbacktotheportofloadingortoanotherconvenientportwhenthevesselisunabletoreachtheportofdestinationbecauseofanexceptedperilorbecausetheconsigneefailstotakedeliveryofThegoodsorprovideinstructionsfortheirdisposal.   BAF–Bunkeradjustmentfactor.   Bale/BaleCapacity–Totalcubiccapacityofaship’sholdsavailableforthecarriageofsolidcargowhichisnotcapableoffillingthespacesbetweentheship’sframes.Itisexpressedincubicfeetorcubicmeters.Whereacargoisfreeflowingandiscapableoffillingthespacesbetweentheship’sframes,thecorrespondingcubiccapacityisknownasthegrainorgraincapacity.   BB–BallastBonus–Sumofmoneypaidbyatimecharterertoashipownerinrecognitionofthefactthattheshipownerisunlikelytofindacargoneartotheplaceofredeliveryoftheshipattheendoftheperiodofthecharterandisthereforeobligedtoballasthisshipelsewhere.   BalticMercantile&ShippingExchange–Institution,locatedinLondon,England,alsoknownastheBalticExchangeorsimplytheBaltic,whosemainfunctionistoprovidefacilitiesforthecharteringofshipsbyitsmembers:charteringagents,actingonbehalfofcharterers,negotiatewithshipbrokerswhorepresentshipownersonthe“floor”oftheBaltic.Otheractivitiesincludeairchartering,futurestradingandsaleandpurchaseofships.   Baltime–GeneralpurposeTimeCharterPartypublishedbyBIMCO.   BareboatCharter–Thehiringorleasingofashipforaperiodoftimeduringwhichtheshipownerprovidesonlytheshipwhilethechartererprovidesthecrewtogetherwithallstoresandbunkersandpaysalloperatingcosts.Thistypeofcharterisfavoredbypersonsorcompanieswhowishtoownashipforinvestmentpurposesbutwhodonothavethedesireorexpertisetooperatetheship.Similarly,itisfavoredbypersonsorcompanieswhohaveaparticularrequirementforashipandtheexpertisewithwhichtooperateonebutwithoutthewishorabilitytopurchase.Ashiphiredoutinthiswayissaidtobeonbareboatcharter.Alsoreferredtoasademisecharteroracharterbydemise.   BareboatCharterer–Personorcompanywhochartersashipforaperiodoftime,providescrew,bunkersandstoresandpaysalloperatingcosts.Alsoknownasademisechartererorchartererbydemise.   BareboatCharter-Party–Documentcontainingthecontractbetweentheownerofashipandthedemisecharter,andsignedbyboth,inwhichareallthetermsandconditionssuchastheperiodofthecharter,therateofhire,thetradinglimitsandalltherightsandresponsibilitiesofthetwoparties.AlsoreferredtoasademiseCharter-Party.   Barecon‘A’–StandardbareboatCharter-PartypublishedbyBIMCO.   Barecon‘B’–StandardbareboatCharter-Partyusedfornewbuildingsfinancedbymortgage,publishedbyBIMCO.   BaseCargo–Minimumquantityofcargorequiredbyashippinglinetomakeitworthwhiletocallataparticularportofloading.   BaseRate–Basicrateoffreightofashippinglineorlinerconferenceontowhichareadded,oronwhicharecalculated,thevarioussurchargessuchasthecurrencyadjustmentfactororbunkersurcharge.   BBB–BeforeBreakingBulk–Aconditionofcarriagethatfreight,orsomepercentageofit,becomespayablebeforebreakingbulk(dischargeofavesselcommences).   BD–Bundle.   BearerofaBillofLadinq–PersonwhotenderstheBillofLadingtotheshipattheplaceofdischargeinexchangeforthegoods.Billsofladingareoftenmadeouttobearer.   Bends–BothEnds–Atbothloadinganddischargingports.ThistermisoftenusedtogetherwithGSAAAAB(goodsafealwaysafloatalwaysaccessibleberth),withOSP(onesafeport),withOSB(onesafeberth)andtoqualifythepricesofthebunkersondeliveryandredeliveryinatimecharter.Alsousedtostateagencydetermination(ex.Carrier’sagentsbends).   BerthCharterParty–Charter-Partyinwhichaparticularberthisnominatedbythecharterer.Thetimeallowedforloadingordischarging,asthecasemaybe,doesnotstarttocountuntiltheshipreachestheberth,unlessberthisoccupiedinwhichcasetimestartscountingwhenNORistendered.   BerthStandardofAverageCause–ClauseinaCharter-Partysettingoutthecontributiontobemadebythecharterertoanyclaimforlossordamagetocargoforwhichtheshipownerisliable.   BillofLadingtoOrder–BillofLadingwhichrequiresanendorsementbyaconsigneebeforegoodscanbedeliveredtohimbythecarryingship.Alsocalleda“toorderBillofLading.”   BIMCO(TheBalticandInternationalMaritimeCouncil)–Associationwhosemainobjectistopromoteanddefendtheinterestsofshipowners.ItalsohasamembershipofshipbrokersandhasbeenresponsibleforcontributingtothecreationofalargenumberofCharter-Partiesandothershippingdocuments.   Bimcosale–StandardbillofsalepublishedbyBIMCO,usedforthepurchaseofships.   B/L–BillofLadinq–Documentissuedbyashipownertoashipperofgoods.Itservesasareceiptforthegoods,evidenceofthecontractofcarriageanddocumentoftitle.Asareceiptitcontainsthedescriptionandquantityofthegoodsaswellassuitablenotationsifthegoodsarenotinapparentgoodconditionwhenreceivedbytheship.Asevidenceofthecontractofcarriage,theBillofLadingcontainsthetermsandconditionsofthecontractor,wherethecontractisrepresentedbyaCharter-Party,areferencetotheCharter-PartyAsadocumentoftitle,the“toorder”BillofLadingisusedbyathirdpartytotakedeliveryofthegoodsfromaship.   Blacklist–Listofcountriespublishedbyaparticulargovernmentwhichwillnotallowshipstotradeatitsportsiftheyhavetradedatportsinthecountriesonthatlist.   Blt–Built.   B/N–BookingNote–Documentcontainingthetermsandconditionsofacontractbetweenashipperandashippinglineforthecarriageofgoodsonaparticularshipbetweenspecifiedportsorplaces.   B.N.A.–BritishNorthAmerica.   BoffersorBO–(asking)bestoffers.   BookSpace(to)–Asashipperorhisagent,toreservespaceinashipforthecarriageofcertaindefinedgoodsfromaplaceofloadingtoaplaceofdischarging.   Booking–Reservationmadebyashipperorhisagentwithacarrierforthecarriageofcertaindefinedgoodsbetweendefinedplaces.   BookingList–Listofallcargobookingsforaparticularsailing.Itiscompiledbyashippinglinefromlistssentinbytheline’sagentsresponsiblefortakingbookingsforthevariousportsontheship’sitinerary.   BothtoBlameCollisionClause–ClauseinaBillofLadingorcharterpartywhichstipulatesthat,intheeventofacollisionbetweentwoshipswherebothareatfault,theownersofthecargomustindemnifythecarryingshipagainstanyamountpaidbythecarryingshiptothenon-carryingshipfordamagetothatcargo.Thisclausearisesbecause,underAmericanlaw,acargoownerisnotabletomakeanyrecoveryfromthecarrierfordamageresultingfromnegligentnavigationbutmayinsteadsuethenon-carryingshipwhichinturnseeksrecoveryfromthecarryingshipinproportionofhisfault.Thiswouldrenderacarrierindirectlyliableforalossforwhichheisnotdirectlyliabletothecargoowner.Theclausehas,however,beenheldtobeinvalidintheAmericancourtswhenincorporatedwithacommoncarrier.   BoxRate–Rateoffreightpershippingcontainer,asopposedtopertonorpercubicmeter.Sinceaboxrateisunaffectedbytheactualquantityloadedintothecontainer,itisinshipper’sinteresttoloadasmuchcargoaspossible,subjecttothemaximumallowed,toeffectivelyreducethecostofcarriageforeachtonorcubicmeter.   BreakBulk(to)–Tocommencetodischargeabulkcargo.Itissometimesaconditionofcarriagethatfreight,orsomepercentageofit,becomespayableonbreakingbulk.   Breakbulk–Relatingtocargoliftedonandoffshipsonepieceorbundleatatimebymeansofcranesorderricks,asopposedtocargoshippedontrailersorinshippingcontainers.Suchgoodsmaybedescribedasbreakbulkcargo;theshipswhichcarrythemaresometimesreferredtoasbreakbulkshipswhichareoperatedonaregularbasisbetweenadvertisedports,provideabreakbulkservice.Thetermbreakbulkisoftenusedtodenotetheoppositeofcontainerized.   Brokenstowage–Amountofunusedspaceinashiporaholdbyvirtueoftheirregularshapeofthecargo.Forexample,thespacetakenupbyabundleofbarsofirregularlengthwouldbecalculatedonthebasisofthelongestlength,asifallthebarswereofthatlength.   Brokerage–Feeorcommissionpayablebyashipownertoashipbrokerforsuccessfulnegotiationofacharter,Itisnormallyexpressedasapercentageofthefreightorhireanddemurrage.Brokeragemayormaynotbepayable,accordingtothetermsoftheCharter-Party,shouldthevoyageorperiodofthecharternotbecompleted.   B/S–BunkerSurcharge–Extrachargeappliedbyshippinglines,orsetbylinerconferencesonbehalfoftheirmembers,toreflectfluctuationsinthecostofbunkers.Thissurchargeisexpressedeitherasanamountperfreighttonorasapercentageofthefreight.Alsoreferredtoasbunkeradjustmentfactor(BAF),orfueloilsurcharge(FOS),orfueladjustmentfactor(FAF).   BT–BerthTerms–Expressionsignifyingthatthecontractofcarriageissubjecttothecustomsandconditionsoftheportsofloadinganddischarging.   C.A.–CentralAmerica(Le.–WCCAorECCAdependingwhichside).   CABAF–Currencyandbunkeradjustmentfactorsurchargeappliedbysomeshippinglines,andsetbysomelinerconferencesonbehalfoftheirmembers,whichconsistsofacurrencyadjustmentfactorandabunkeradjustmentfactorcombined.Thissurchargeisnormallyexpressedasapercentageofthefreightrate.   CAD–CashAgainstDocuments–Termofsalewherebythebuyerreceivesthecommercialdocuments,includingtheBillofLading,whichisthedocumentoftitle,onpayingthesellerforthegoods.ThistermisalsousedtoqualifyacontractofcarriageinwhichthecarrierreleasestheBillofLadingtotheshipperinexchangeforthegoods.   CAF–CurrencyAdjustmentFactor–Surchargeappliedtofreightratesbyshippinglinesorsetbylinerconferencesonbehalfoftheirmembers.ThepurposeofthecurrencyadjustmentfactorisembodiedintheE.S.C.(EuropeanShippers’Councils)/C.E.N.S,A.(CouncilofEuropeanandJapanesenationalShipowners’associations)Code.Itistoensurethattherevenueoftheshippinglinesisunaffectedbythelinesinrelationtothetariffcurrency.Thecodeprovidesformulae,adoptedbymanyconferences,forcalculatingtheCAFand,sincethevaluesofcurrenciescanmoveupwardsaswellasdownwards,theCAFwhichisnormallyexpressedasapercentageofthefreight,maybenegativeaswellaspositive.Thusatariffrateof$100becomes$108whensubjecttoaplus8percentCAF.   CalendarMonth–A“month”inatimecharterusuallymeansacalendarmonth,whichextendsfromthegivendayofthemonthtothedayofcorrespondingnumberinnextmonth.Ifthatnextmonth,beingshorter,doesnothaveadayofthatnumber,thecalendarmonthexpiresonthelastdayofthatmonth.Forexample,ifashipisdeliveredonAugust31st,the1stmonth’shireexpiresSeptember30th;thenextmonth’shirewouldbepayableonOctober31st,notOctober30th.   CanalTransitDues–Chargeleviedbyacanalauthority,suchasthatfortheSuezCanal,fortransiting.Thischargeisbasedontheship’stonnage.   Cancellation(ofacharter)–Repudiationofthecontract,mostoftenbythevoyagechartererwhentheshipmisseshercancelingdate,orbyatimechartererwhentheshipisoffhireformorethantheperiodstipulatedintheCharter-Party.   CancellationClause–CharterPartyclausespecifyingthelastdateknown,asthecancelingdate,onwhichashipmustbeavailabletothechartererattheagreedplace.Iftheshiparrivesafterthecancelingdate,thecharterermayhavetheoptiontocancelthecontract.   CancelingDate–Lastdate,agreedinavoyageCharter-PartyortimeCharter-Party,bywhichashipmustbeavailabletothechartererattheagreedplaceatthecommencementofthecontract.Iftheshipisnotavailablebythatdate,thecharterermayhavetheoptiontocancelthecharterundercertaincircumstancesandclausesoftheCharterParty.   CargoSharing–Reservingbytheauthoritiesofacountryoftheoceancarriageofitsexportsandimportstotheshipsofitsownfleetandthatofthecountrieswithwhichittrades,usuallyinequalproportions,oftenallowingtheshipsofothercountriesasmallershare.   Cargoworthiness–Fitnessofashiptocarryaparticularcargo.   Cargoworthy–Saidofaship,beingfittocarryaparticularcargo.   Carrier–Partywhoentersintoacontractofcarriagewithashipper.Thecarriermaybetheownerorchartererofaship.   Carryings–Quantityofcargocarriedoveraperiodoftimebyashippinglineorbyallthemembersofalinerconference.Thisquantityisafactorindeterminingtheprofitabilityoftheserviceandtheneed,ifany,toapplyanincreasetothefreightrates.   CBR–CommodityBoxRate–Freightratepershippingcontainerforaparticularcommodity.   Centrocon–VoyageCharter-PartyusedforshipmentsofgrainfromtheRiverPlate.   CesserClause–ClauseinavoyageCharter-Partywhichseekstorelievethechartererofallresponsibilityunderthecontractoncethecargohasbeenshipped.Oftenthisclauseincorporatesaprovisionfortheshipownertohavealienonthecargoforfreight,deadfreightanddemurrage.   CFR–CostandFreight–Salestermdenotingthatthesellerisresponsibleforarrangingandpayingforthecarriageofthegoodstotheagreedportofdischarge.Riskoflossanddamagegenerallypassestothebuyerwhenthegoodspassship’srailattheportofloading.   CFS–ContainerFreightStation–Placewhereconsignmentsaregroupedtogetherandpackedintoashippingcontainerorwheresuchconsignmentsareunpacked.   Charter–Thecharteringorhiringofaship.Ashipwhichishiredoutissaidtobeoncharterandthetimeduringwhichashipishiredoutisknownastheperiodofthecharter.   CharterbyDemise–Seebareboatchatter.   Charterin(to)–Tohireashipfromashipowner.Thisexpressionissometimesusedmorespecificallytodenotethattheshipisbeingcharteredforaspecificvoyageorpurpose,supplementingashippingcompanysfleetwhoseshipsarefullycommittedormoreprofitablyemployedelsewhere.   Charterout(to)–Tohireashipouttoacharterer.Thisexpressionissometimesusedtodenote,morespecifically,thehiringoutofashipwhichistemporarilysurplustotherequirementsofashipownerorshippingcompany.   Charterable–Saidofaquantityofgoodsthatissufficienttofillashiptakenoncharterterms.   Charterer–Personorcompanywhohiresashipfromashipownerforaperiodoftime(seeTimecharterer)orwhoreservestheentirecargospaceofashipforthecarriageofgoodsfromaportorportsofloadingtoaportorportsofdischarge(seeVoyagecharterer).   Charterer’sMarket–Weakmarket,withcomparativelylowfreightrates.   Chopt–inCharterers’Option–TerminaCharter-Partywhichstipulatesthatthecharterershaveachoiceinspecificcircumstances.Forexample,thecontractmayallowfordischargeatport‘A’orport‘B’incharterers’option,withtheprovisionthatoneportistobedeclaredtotheshipownerbyacertainpointinthevoyage.   Charterer’sAgent–Ship’sagentnominatedbythevoyagechartererinaccordancewithCharter-Party.Althoughnominatedbythecharterer,theagentispaidby,andisresponsibleto,theshipowner.Canalsobeapplicabletoagentsappointedataloadordischargeportbyrequestoftheactualcargointerests.   Charterer’sBillofLadinq–BillofLadingissuedbyachartererandsignedbyhimorhisagent.Undercertaincircumstances,thechartererwhosignshisownbillsofladingmaybedeemedtobethecarrier,thustakingonallresponsibilitiesofacarrier.   CharteringAgent–Shipbrokerthatactsonbehalfofachartererinthenegotiationsleadingtothecharteringofaship.Heisthecounterparttotheowner’sbroker,theshipownerwhoactsonbehalfoftheshipowner.   CharterPartyBillofLading–BillofLadingissuedforashipmentofcargoonacharteredshipwhenitisintendedthatthereceiverbeboundbythetermsandconditionsoftheCharter-Party.AclausetothiseffectincorporatingthedateandplaceofsignatureoftheCharter-PartyappearsontheBillofLading.   CharterPartyBroker–Abrokerthatwillcontractattheactualmarketlevel,buthewillalwaystrytophraseeverysingleCharter-Partyclausesothatitwillbeasadvantageousaspossibletohisprincipal.ItmustbestressedthataCharter-Partythathasnotbeencarefullydraftedmaycauseoneofthepartiesconsiderableloses.   CIF–CostInsuranceandFreight–Salesterndenotingthatthesellerisresponsibleforarrangingandpayingforthecarriageofthegoodstotheagreedportofdischargeandfortheinsuranceofthegoodscoveringtheperiodofcarriageinvolvedinthecontractofsale.Theriskoflossordamagegenerallypassestothebuyerwhenthegoodspassship’srailattheportofloading.   CIP–FreightorCarriageandInsurancePaidto–ThistermisthesameasCPTbutwiththeadditionthatthesellerhastoprocuretransportinsuranceagainsttheriskoflossordamagetothegoodsduringcarriage.Thesellercontractswiththeinsurerandpaystheinsurancepremium.   ClauseParamount–ClauseinaBillofLadingorCharter-PartywhichstipulatesthatthecontractofcarriageisgovernedbytheHagueRulesorHague-VisbyRulesortheenactmentoftheserulesofthecountryhavingjurisdictionoverthecontract.   ClausedBillofLading–BillofLadingcontainingone,ormorethanone,superimposedclausewhichmayeitherspecifyadefecttothecargooritspackingormaybeanycommentofthemasterregardingthecarriageofthegoods,forexamplethattheweighsorcontentsofaconsignmentareunknowntohim,orthatthegoodsshippedondeckareatshipper’srisk.   CleanBillofLading–BillofLadingwhichcontainsnosuperimposedclausespecifyinganydefecttothecargooritspacking;itindicatesthatthecargohasbeenreceivedbytheshipinapparentgoodorderandcondition.Cleanbillsofladingareoftenrequiredbybankswhousethemascollateralsecurityagainstmoneyadvancedforthepurchaseofthegoodsdescribedtherein.   CleanReceipt–Receiptgivenbyanyonereceivingcargointohiscareorpossessionbearingnoclausingornotationindicatinglossordamage,thusindicatingthatthegoodswerereceivedinapparentgoodorderandcondition.   ClearDays–Usedwithanumbertodenotetheperiodoftimeexcludingthefirstandthelastdays,forexampletencleardays.   ClosedConference–Linerconferenceinwhichthememberlinesvoteontheadmissionofanewline.Thepurposeofthisistorestrictthenumberofshipsinaparticulartrade.   Closingdate–Finaldatefordeliveringcargotoalinership.Usuallyconsideredtobethefirstdayofthelaycanorshippingperiod.Canalsobeacargocutoffdate.   COA–ContractofAffreightment–isusuallyacontractforthecarriageofaspecifiedtypeandquantityofcargo,coveringtwoorseveralshipmentsandrunningoveralongperiod.IntheCOAitisthecargoandnotthevesselthathasacentralposition.   Coasthire–TimeCharter-Party,thefullnameofwhichistheChamberofShippingCoastingandShortSeadailyHireCharterParty.   CoastingBroker–Shipbrokerwhospecializesinthenegotiationofchartersforcoastwiseorshortseavoyages.   CombinedTransportBillofLadinqorCombinedTransportDocument–Documentevidencingacontractbetweenshipperandashippinglineforcarriageofgoodsonavoyageinvolvingatleasttwolegs.Normally,theissuerofthisdocumentisresponsibleforthegoodsfromthetimetheyarereceivedintohiscareuntilthetimetheyaredeliveredatdestination.   CommonCarrier–Personorcompanyadvertisingaserviceinvolvingthecarriageofgoodstoandfromportsonaparticularroute.Acommoncarrierisrequiredbylawtoacceptallcargooffered,exceptdangerousones,andtomakeareasonablechargefortheircarriage.   CommonShortFormBillofLadinq–TypeofBillofLadingwhichmaybeusedbyanyshippinglinesinceneitherthenameofthelinenoritsconditionsofcarriageareprintedonit:thenameistypedonandaprintedclausestatesthefulltermsandconditionsareavailableonrequest.   CompetitiveBroker–Abrokerengagedineffortstobringtogetheranowner’sconfidentialbrokerwiththebrokerofasuitablechartererisengagedincompetitivecharteringandiscalledacompetitivebroker.   Conbill–BillofLadingapprovedbytheBIMCOforusewhennoCharter-Partyissigned.   Conference–Twoormoreshippinglinesoperatingaserviceincommonbetweendesignatedgeographicalareas.Thelinesagreeasetoffreightratesandanyspecialratesforshippersandeachlinechargesthesameastheothers.Theshipsusedareoftypessuitableforthetrade.Unliketrampshippingwherefreightratesarefunctionofdailysupplyanddemand,conferenceratesarerelativelystable:baseratesarealteredbymeansofageneralrateincreasewhichinmanycasesisonceayear.Linesinaconferencearegovernedbytheruleofmembershipwhichmayincluderightstoloadordischargeatcertainports,andpoolingofcargo.Alsoreferredtoasafreightconferenceorashippingconferenceoralinerconference.   Constant–Referstothoseitemsofamoreorlesspermanentnature,suchascrewandeffects,stores,sparepartsinexcessofrulerequirement(forexample,asparepropellerand/orasparetailshaft,neitherofwhicharerequiredbytherules),whichhavenotbeenincludedinthelightweightandconsequentlymustbededucedfromthedeadweightwhendeterminingthedeadweightavailableforcargo.Theword“constant”itselfisamisnomer,sincetheconstantisnotforeverconstantbutmayvaryfromvoyagetovoyagedependingontheamountofstoresandsparesonboard.   CT–ConferenceTerms–Qualificationtoafreightratewhichsignifiesthatitissubjecttothestandardtermsandconditionsoftheparticularlinerconference.Thesearenormallysetoutintheconference’stariff.   Congenbill–BillofLadingintendedtobeusedwithGenconcharterpartiesOneoftheclausesinthisBillofLadingstatesthatitincorporatesallthetermsoftheCharter-Party.   CongestionSurcharge–Extrachargeappliedbyshippinglines,orsetbylinerconferencesonbehalfoftheirmembers,toreflectthecostofdelaytotheirshipsataparticularportcausedbycongestion.   Conlinebill–LinerBillofLadingpublishedbytheBIMCO.   ConlineBookingNote–LinerBookingNotepublishedbyBIMCO.   ConsecutiveVoyages–Successivevoyagesofashiponchartertooneparty.TheCharter-Partymaystipulatethenumberofvoyagesorthetotalquantityofcargotobecarriedorthetotalperiodduringwhichtheshipownerperformsthemaximumnumberofvoyages.Consecutiveisoftenabbreviatedtoconsec.   Consignee–Persontowhomgoodsaretobedeliveredbythecarrierattheplaceofdestination.   Consignor–Personwhoplacesgoodsinthecareofacarrierfordeliverytoapersonknownasaconsignee.   Consolidation–Thegroupingtogetherofseveralcompatibleconsignmentsintoafullcontainerload.Alsoreferredtoasgroupage.   Contractor–Personorcompanyhavingaloyaltycontractwithalinerconferenceandentitledsubjecttohavingcompliedwiththetermsofthecontract,toacontractor’srebate.   COP–CustomofthePort–Establishedpracticeataport,whichbecomespartofacontractofcarriageunlessotherwiseprovidedforinthecontract.Frequentexamplesaredailyrateofloadinganddischarging,andthepointwhereacarrier’sresponsibilityendsinalinertermscontact.   CopyBillofLadinq–ReproductionofaBillofLadingintendedtobeusedforadministrativepurposesonlyandnotfortakingdeliveryofthegoodsorfortransferringtitletothem.   Count(aslaytime)(to)–Tobeincludedinthecalculationoflaytimeinavoyagecharter.Whetheraperiod,suchasduringaweek-endorastrike,countsaslaytimeissubjecttotheagreementofshipownerandcharterersavethat,onceallthetimeallowedhasbeenused,theremainingperioduntilcompletionofloadingordischarging,asthecasemaybe,countswithoutexception.AtypicalvoyageCharter-Partyclausemightstipulatethat‘timebetween1700hoursFridayand0800hoursMondaynottocount,evenifused.   Counter-offerorCounter–Responsetoanofferwhichinsomewayvariesthetermsorconditionsofthatoffer,byvirtueofapartymakingacounter-offer,theofferitselfisnolongerbinding.Offerandcounterofferformthebasisofthenegotiationsinvolvedinchartering.   CP–Charter-Party–Documentcontainingallthetermsandconditionsofthecontractbetweenashipownerandacharterer,andsignedbybothpartiesortheiragents,forthehireofashiporthespaceinaship.MostCharter-Partiesarestandardformswithprintedclausesandspacesorboxesinwhichdetailsrelatingtotheindividualcharter,suchasfreight,laytime,demurrage,theship’sconstruction,speedandconsumption,areinserted.Theprinteddocumentsmaybevariedand/oraddedtobyagreementofthetwoparties.SometimesspelledCharterParty.   CPT–FreightorCarriagePaidto–Meansthatthesellerpaysthefreightforthecarriageofthegoodstothenameddestination.However,theriskoflossanddamagetothegoods,aswellasofanycostincreases,istransferredfromthesellertothebuyerwhenthegoodshavebeendeliveredintothecustodyofthefirstcarrierandnotattheship’srail.Itcanbeusedforallmodesoftransportincludingmultimodaloperationsandcontainerorroll-on/roll-offtrafficbytrailersandferries.WhenthesellerhastofurnishaBillofLading,waybillorcarrier’sreceipt,hedullyfulfillshisobligationbypresentingsuchadocumentissuedbythepersonwithwhomhehascontractedforcarriagetothenameddestination.   CQD–CustomaryQuickDespatch–Meansthatthecharterermustloadand/ordischargeasfastasisreasonablypossibleinthecircumstancesprevailingatthetimeofloadingordischarging.Thereisnoprovisionfordemurrageordespatch.Fromthestandpointofanowner,itgivesverylittleassurance,ifany,ofaquickloadand/ordischarge.   Cst.–Centistokes–Measureoftheviscosityofoils.Thegreaterthenumberofcentistokes,thehighertheviscosityofagradeofoil.   D/A–DisbursementsAccount–Accountrenderedbyaship’sagentataporttotheshipownerforallsumspaidoutinrespectoftheship’scallattheportsuchaspilotage,towage,anycashadvancetothemaster,supplyofprovisionsandstoresandtheagencyfee.Receiptsknownasvoucherssupporttheaccount,   DamageforDetention–Sumofmoneypayabletotheshipownerbythevoyagecharterer,oranyonewhobecomesapartytothetermsofthecharter,forfailingtoloadand/ordischargecargowithinthetimeallowedintheCharter-Party.Itispayableforeachdayorpartthereofuntilcompletionofloadingordischarging,asthecasemaybe.Unlikedemurrage,theamountisnotagreedinadvance,butisnormallysetbytheCourteitheratthesamerateasdemurrageifsucharatehasbeenincorporatedintotheCharter-Party,orbasedonthedailyrunningcostoftheshipplusanyprofitwhichshipownermightreasonablyhaveexpected.ThesedamagesapplywhentheCharter-Partycontainsnoprovisionfordemurrageorwhentheagreedperiodofdemurrageisexceeded.   Deadfreight–Amountofmoneypayablebyashipperorcharterertoashipownerorshippinglineforfailingtoloadthequantityofcargostipulatedinthecontractofcarriage.Deadfreightisnormallypayableatthefullfreightratebutmaybereducedbytheloadingand/ordischargingexpensesifthesewereincludedinthefreight.   DeadweightCargo–Cargoofonemetrictonwhichmeasuresonecubicmeterorless.Freightondeadweightcargoisgenerallypayableontheweight,thatis,permetricton.   DeckCargo–Cargocarriedon,andsecuredto,theopendeckofaship.Cargoestraditionallycarriedondeckincludedangerousgoods,timberandgoods,whicharetoolargeforthehatchway.Considerationneededwhencontemplatingcarryingcargoondeckare:thestrengthofthedeck,thestrengthofthehatchcoversifcargoisstowedonthetopofthem,thesafetyofthecrewandtheirabilitytogofromonepartoftheshiptoanother,theneedtoensurethatcargoisnotstackedsohighastoimpedenavigation.Deckcargoesarecarriedattheriskofthecharterer,shipperorBillofLadingholder,asthecasemaybe.   Delivery(of)acargo–TheconveyingofgoodsbyacarriertothereceiverorBillofLadingbolderattheplaceofdestinationinthecontractofcarriage.   Dely–Delivery(ofaship)–Placingofatimecharteredshipbytheshipowneratthedisposalofthechartereratthebeginningoftheperiodofthecharter,atthetimeandplaceagreed.Theplaceofdeliveryisoftenalocation,suchasapilotstation,whereitisrelativelyeasytoverifythetimeofarrivalandhencethetimewhenthechartercommences.Normally,anonhiresurveyiscarriedoutassoonaspracticableinordertodeterminetheconditionoftheshipandthequantityofbunkersonboardatthetimeofdelivery.   DeliveryCertificate–Document,signedbyoronbehalfoftheshipownerandthecharterer,certifyingthetime,dateandplaceofdeliveryoftheship,thatis,theplacingoftheshipatthedisposalofthetimechartereratthebeginningoftheperiodofthecharter.ThecertificatealsostatesthequantityofbunkersonboardatthetimeofdeliveryandanynotationsbythechartererconcerningthefailureoftheshiptocomplyinanyrespectwiththetermsoftheCharter-Party.   DeliveryOrder–Documentissuedbyalinercompany’sagentauthorizingthepartynamedinittotakedeliveryofspecificcargofromaship.ItisnormallyissuedinexchangeforanoriginalBillofLading.   Dem–Demurrage–Amountofmoneypaidtotheshipownerbythecharterer,shipperorreceiver,asthecasemaybe,forfailingtocompleteloadingand/ordischargingwithinthetimeallowedintheCharter-Party.Therateofdemurrage,normallyanamountperday,isagreedintheCharter-Party.Somechartersspecifythat,afteracertainperiodofdemurrage,eitheradditionaldemurrageordamagesfordetentionbecomepayable.Whendemurragebecomespayable,itissaidofashipthatsheisondemurrage.Onceashipisondemurrage,nodeductionsaremadefortheexceptedperiods,suchasweekends,inthecalculationofthedemurragecharges;henceitissaidthat“onceondemurrage,alwaysondemurrage.”   DemiseCharter–Seebareboatcharter.   DemiseClause–ClauseinaBillofLadingstipulatingthatthecontactofcarriageisbetweentheshipperorBillofLadingholderandtheshipowner.Billsofladingissuedbycharterersofashiponbehalfoftheownerandmasteroftencontainthisclause.Itshouldbenotedthatthisclauseisinconsistentwiththelawsofcertaincountriesandmaythereforebeinvalidinthosecountries.   DEQ–Deliveredexquay–Thismeanthatthesellermakesthegoodsavailabletothebuyeronthequayatthedestinationnamedinthesalescontract.Thesellerhastobearthefullcostandriskinvolvedinbringingthegoodsthere.Therearetwo“exquay”contractsinuse,namely“exquay”(dutypaid)and“exquay’(dutiesonbuyer’saccount),inwhichtheliabilitytoclearthegoodsforimportaretobemetbythebuyerinsteadofbytheseller,partiesarerecommendedalwaystousethefulldescriptionsofthesetermsnamely“exquay’(dutypaid)or“exquay”(dutyonbuyer’saccount),orelsetheremaybeuncertaintyastowhoistoheresponsiblefortheliabilitytoclearthegoodsforimport.   DESP–DespatchorDespatchMoney–Amountofmoneytherateofwhichisagreedinadvance,payablebytheshipownertothecharterer,shipperorreceiver,asthecasemaybe,forloadingand/ordischarginginlessthanthetimeallowed;normallydespatchmoney,ifaprovisionforithasbeenmade,isatthesamerateas,orhalftherateoftherateofdemurrageagreedintheCharter-Party.   DES–Deliveryexship–Thismeanthatthesellershallmakethegoodsavailabletothebuyeronboardtheshipatthedestinationnamedinthesalescontact.Thesellerhastobearthefullcostandriskinvolvedinbringingthegoodsthere.   DetentionCharge–Chargepayablebyashipperorreceivertoashippinglinefordetainingequipmentoravesselbeyondthetimeallowed.   DeviationClause–ClauseinaBillofLadingorCharter-Partyallowingtheshippinglineorshipownertodeviatefromtheagreedrouteornormaltraderoute.Thisclausevariesfromcontracttocontractandmaypermittheshiptocallatunscheduledportsforwhateverreason,ortodeviatetosavelifeorproperty.   DHD—DemurrageHalfDespatch–Thisterm,oftenfoundinvoyagecharternegotiations,signifiesthatdespatchmoneyistobepaidatthedailyrateofdemurrage.Therateofdemurrageprecedesthistermintheoffer.Forexample,anofferbytelexmightreadUSD5.000dhd,whichsignifiesthatdemurragewouldbeattherateofU.S.Dollars5,000perdayanddespatchmoneyatU.S.Dollars2,500perday.   DirtyBillofLading–BillofLadingcontainingone,ormorethanonesuperimposedclausespecifyingadefecttothecargoorpacking,notedatthetimethegoodsarereceivedbytheship.SuchaBillofLadingisalsoreferredtoasfoulorunclean.   Disbursements—Sumspaidoutbyaship’sagentonbehalfofashipownerataportandrecoveredfromtheshipownerbymeansofadisbursementsaccount.Typicalexpensesincludepodcharges,pilotage,towageandtheagent’sfee.   DisponentOwner–Personorcompanywhocontrolsthecommercialoperationofaship,responsiblefordecidingtheportsofcallandthecargoestobecarried,veryoften,thedisponentownerisashippingline,whichtimechartersashipandissuesitsownlinerbillsoflading.Inmostcases,BBCCharteringisactingas“disponentowners”.   DockDues–Chargeleviedagainstashipownerorshipoperatorbyaportauthorityfortheuseofadock.   DoortoDoor–Saidofaserviceorfreightrateprovidedbyacontainershippinglinewherebygoodsareloadedintoashippingcontainerattheshipper’spremisesandnotunloadeduntiltheyarriveattheconsignee’spremises.   DOP–DroppingOutwardPilot–Frequentlyusedprovisioninatimechartertodeterminethetimeandplaceofredeliveryofashiptotheownerbythecharterer.Thehireceasesatthemomentthepilotdisembarks.   DryWeight–Actualweightofabulkcargolessanallowanceformoisturecontent.   DWCC–DeadweightCargoCapacityorDeadweightCarryingCapacity–Weightofcargo,whichashipisabletocarrywhenimmersedtotheappropriateloadline,expressedintons.   DWTorDWAT–Deadweightordeadweightalltold.Differencebetweenaship‘sloadedandlightdisplacement,consistingofthetotalweightofcargo,fuel,freshwater,storesandcrewwhichashipcancarrywhenimmersedtoaparticularloadline,normallyhersummerloadline.Thedeadweightisexpressedintons.   EconomicSpeed–Thisisthespeedofavesselproducingthebestpossiblefinancialresultsfortheowners,givingproperconsiderationtothefollowing: Thepricesofbunkersintheportsenroute. Fuelconsumptionofthevesselatvariousspeeds. Dailyoperatingcosts. Thenetfreightpertonofcargo. Operatingprofitperday. Subsequentavailableemploymentofvesselandanticipatedfreight.   EIU–EvenifUsed–TermusedinavoyageCharter-Partywhichprovidesthattimeusedtoloadordischarge,asthecasemaybe,duringexceptedperiodsisnotdeductedfromthetimeallowed.ACharter-Partymightstipulatethatthetimedoesnotcountfrom1700hoursFridayto0800hoursMonday,evenifused.Inthiscase,evenifchartererschoosetoloadordischargeinbetweenthesehours,thetimespentworkingwouldnotcountaslaytime.   EndorseaBillofLading–TosignoveraBillofLadingtoanother,thustransferringtitletothegoodsdescribedintheBillofLadingtothatparty.   Enrollment(U.S.)–ThedocumentissuedbytheU.S.Governmenttovesselsunder U.S.flagengagedsolelyindomesticorcoastwisetrade,asdistinguishedfromtheregister,whichisconfinedtovesselsengaginginforeigntrade.   ETA–EstimatedTimeofArrival.   ETC–EstimatedTimeofCompletion.   ETD–EstimatedTimeofDeparture.   ETR–EstimatedTimeofReadiness.   ETS–EstimatedTimeofSailing.   EXW–ex.Works–Salestermdenotingthatthesellerisresponsibleformakingthegoodsavailableathisworksorfactory.Thebuyerbearsthecostofloadingthegoodsontothevehicle(s)anddeliveringthemtothedestination.Theriskoflossanddamagetothegoodsgenerallypassesfromthesellertothebuyeratthetimethattheyaremadeavailable.   ExceptedPeriod–Periodduringwhichanytimeusedtoloadordischargedoesnotcountforthepurposeofcalculatingdemurrageordespatch,otherthanbyprioragreement(seeUnlessused).SuchperiodsmustbeexpresslystatedintheCharter-Partyandmayincludeweekends;publicholidaysandtimeusedshiftingfromanchoragetoberth.Itshouldbenotedthat,oncelaytimehasexpired,timecountsduringexceptedperiodsinthecalculationofdemurrage.   ExceptionsClause–ClauseinaCharter-PartyorBillofLadingthatexoneratesthecarryingshipfromresponsibilityfordamagetocargofromcertainnamedcausessuchasanactofGodornegligenceofthemaster.   ExpiryofLaytime–MomentwhenthetimeallowedintheCharter-Partyforloadingand/ordischarging,asthecasemaybe,hasbeenusedup.Ifloadingordischarging,asthecasemaybe,hasbeenusedup.Ifloadingordischarginghasnotbeencompleted,demurrageordamagesfordetentionbecomepayable.   ExtensionofaCharter–Prolongingoftheperiodduringwhichashipisontimecharter.AnoptiontoextendthechartermaybeincorporatedintotheCharter-Party,veryoftenonthesametermsbutpossiblyatadifferentrateofhire.   ExtensiontotheCancelingDate–AgreementbythecharterertoalaterdatethanthatagreedintheCharter-Partybywhichashipmusttendernoticeofreadinesstothechartererthatshehasarrivedandisreadytoload.Ifashipislikelytobedelayedinreachingtheloadport,theshipownermayaskthecharterertoextendthecancelingdate.Ifthechartereragrees,thecontractisamendedaccordingly.Ifnot,thecharterermayhavetheoptiontocancelthechartereitherbeforethecancelingdatebymutualconsentorafterthecancelingdatewithinatimespecifiedintheCharter-Party.Alternatively,theshipownermaybeobligedtopresenthisshipattheloadport,howeverlate.   ExtensiontoSuitTime–Anextensionbythecarrieroftheperiodwithinwhichcargointerestsmustbringalawsuitforanyclaimwhichtheymayhaveunderthecontractofcarriage.Thisextensionmaybegrantedattherequestofcargointerestswhentheclaimhasnotbeenfullyquantifiedandprovidesthepartieswithfurthertimetosettletheclaimoutofcourt. Extra-lengthSurcharge–Extrachargesetbylinerconferencesonbehalfoftheirmembersorappliedbyshippinglinesoncargoexceedingalengthspecifiedintheirtariffoften40feetor12meters.Thisextrachargeisnormallyexpressedasanamountofmoneypereachtonforeachunitoflength,forexampleeachfootorpartofafootinexcessofthespecifiedlength.   FAC–FastasCan–Termusedinacontractofcarriage,particularlyinthoseofshippinglines,todenotethattheshippermustsupplythecargoasfastastheshipcanloadorthatthereceivermusttakedeliveryasfastastheshipcandischarge.   FACCOP–FastasCanCustomofthePort–seeFAC–FastasCanandCOP–CustomofthePort.   FAF–FuelAdjustmentFactor–seebunkersurcharge.   FAK–FreightAllKinds–Singlefreightratewhichischargedirrespectiveofthecommodity.   FAS–FreeAlongside–Underthistermtheseller’sobligationsarefulfilledwhenthegoodshavebeenplacedalongsidetheshiponthequayorinlighters.Thismeansthatthebuyerhastobearallcostsandrisksoftossordamagetothegoodsfromthatmoment.Itshouldbenotedthatunlikefob,thepresenttermrequiresthebuyertoclearthegoodsforexport   F/C–FullandCompleteCargo–Thisexpressioncharacterizesafullcargo,inaccordancewiththecustomoftheport,whichwilleitherbringthevesseldowntohermaximumpermissibledraftorfillthevesselcubicallyasthecasemaybe.   FCC–FirstClassCharterers–acommonlyused,meaninglessphrase,whichshouldbeavoided.Bettertosay,ifyouneedtokeepthenameundisclosed:“localcharterersorasimilarphrase”.   FCL–FullContainerLoad–Quantityofcargo,whichfillsashippingcontainertocapacity,eitherbyweightorcubicmeasurement.   FCLAllowance–DeductionfromtheFCLfreightprovidedbyashippinglineorlinerconferencetoashipperwholoadsaminimumnumberoftonsorcubicmetersofcargointoashippingcontainer.Theremaybevariousallowancesdependingonthedegreeofutilizationofthecontainer.Alsoknownasutilizationallowance.   FCL/FCL–Termusedtodescribeacontainerfreightratewherebytheshipperisresponsibleforpackingofthecontainerandtheshipperorreceiver,asthecasemaybe,isresponsiblefortheunpacking.   FCL/LCL–Termusedtodescribeafreightratewherebytheshipperisresponsibleforpackingofthecontainerandtheshipperorreceiver,asthecasemaybe,isresponsiblefortheunpacking.   FD–FreeDespatch–ProvisioninavoyageCharter-Partythatdespatchmoneyisnotpayablewhenloadingand/ordischarginghasbeencompletedinlessthanthetimeallowed.   Ferticon–VoyageCharter-Partyusedforshipmentsoffertilizer,publishedbytheChamberofShipping.   Fertivoy–VoyageCharter-PartyusedforshipmentsoffertilizerfromtheUnitedStatesofAmericaandCanada.ThefullnameofthisCharter-PartyistheNorthAmericanfertilizerCharter-Party.   FEU–FortyFootEquivalentUnit–Unitofmeasurementequivalenttoone40-footcontainer.Thustwo20-footcontainerscompriseanFEU.Thismeasurementisusedtoquantify,forexample,thecontainercapacityofaship,thenumberofcontainerscarriedonaparticularvoyageoroveraperiodoftime,oritmaybetheunitonwhichfreightisbased.   FHEX–FridaysandHolidaysExcepted–Charter-Partyterm,whichprovidesthatFridaysandholidaysdonotcountinthecalculationoflaytime.ThistermappliestothosecountrieswhereFridayistheSabbath,notablyintheMiddleEast.   Fl–FreeIn–Freeofexpensetotheshipownerofcargohandlingattheloadingport.   FILO/FILTD–FreeinLinerOut/FreeinLinerTermsDischarge–Qualificationtoafreightratedenotingthatitisinclusiveoftheseacarriageandthecostofdischarging.Itexcludesthecostofloadingand,ifappropriatetothetypeofcargo,stowing,dunnaging,lashingandsecuringortrimming,allofwhicharepayablebythechartererorshipper.Thistypeoffreightratemayhaveaprovisionforlaytimeanddemurrageattheportofloadingsincethecarrierhasnocontrolovertheloading.   FIO–FreeInandOut–Termqualifyingafreightratewhichsignifiesthatitexcludesthecostofloadinganddischargingandifappropriatetothetypeofcargo,stowing,dunnaging,lashingandsecuringortrimming,allofwhicharepaidbythechartererorshipperorreceiver,asthecasemaybe.Thistypeofrateistypicallyfoundinvoyagecharter-partiesand,sincetheshipownerhasnocontroloverloadinganddischarging,thesegenerallyhavesuitableclausesforlaytimeanddemurragetoallowfordelaysattheloadinganddischargingports.   FIOLSD–FreeInandOut,Lashed,SecuredandDunnaged–Qualificationtoafreightrate,whichisequivalenttofreeinandout,butwhichavoidsanyambiguitybyspecifyingthatthecostoflashing,securinganddunnagingisnotfortheaccountoftheshipowner.Itisnormallypayablebythechartererortheshipper.   FIOS–FreeInandOutandStowed–Qualificationtoafreightratewhichisequivalenttofreeinandoutbutwhichavoidsanyambiguitybyspecifyingthatthecostofstowageisnotfortheaccountoftheshipowner.Itisnormallypayablebythechartererortheshipper.Itisusedincarriageofgeneralcargo.   FIOT–FreeInandOutandTrimmed–Qualificationtoafreightratewhichisequivalenttofreeinandoutbutwhichavoidsanyambiguitybyspecifyingthatthecostoftrimmingisnotfortheaccountoftheshipowner.Itisnormallypayablebythechartererortheshipper.itisusedincarriageofbulkcargo.   FirmOffer–Anofferthatisnotconditionalinanywayandisbindingonthepartymakingit,providedthatitisacceptedinfullandwithinanytimelimitspecifiedinit.   FirstClassShip–Shiptowhichthehighestclasshasbeengivenbyaclassificationsocietyinaccordancewithitsrulesconcerningconstructionandmaintenance.   Fix(to)–Toconcludesuccessfullynegotiationsresultinginthecharterofashiporcargo.   FixBestPossible–SituationwherethebrokerisgivenleewaytonegotiatetheCharter-Partyiftermsoforiginalinstructionscannotbemetinthemarket.Veryrarelyhappens.Usually,thebrokerisgivenasetofinstructionsbytheprincipal,andifhecannotfindacountertomeetthoseterms,hemustreturntohisprincipalforanewsetofinstructions.   FixedonSubjects–Saidofaship,whenthetermsandconditionsofcharteringherhavebeenagreedexceptforafew,normallyminor,details.   FixedOperatingExpense–Thedailyormonthlyout-of-pocketcostsofoperatingavessel,whichmayincludeamortizationandinterest,butdoesnotincludefueloranyothervariablecosts.   Fixture–Successfulconclusionofthenegotiationsbetweenshipownerandcharterer,generallythroughshipbrokers,resultinginthecharterofaship.   FLT–FullLinerTerms–Qualificationtoafreightrate,whichsignifiesthatitconsistsoftheoceancarriageandthecostofcargohandlingattheloadinganddischargingports,accordingtothecustomofthoseports.Thisvarieswidelyfromcountrytocountryand,withincountries,fromporttoport:insomeports,thefreightexcludesallcargohandlingcostswhileinothers,thecostsofhandlingbetweentheholdandtheship’srailorquayisincludedinthefreight.   FO–FreeOut–Qualificationtoafreightratedenotingthatthecostofdischargingofthecargofromtheship’sholdisnotincludedinthefreightbutispayablebythechartererorshipperorBillofLadingholder,asthecasemaybe.Whenqualifyingatermofsale,itdenotesthatthepurchasepriceofthegoodsdoesnotincludethiscostthatisbornebythebuyer.Often,dailyratesofdischarginganddemurrageareincorporatedintosuchcontracts.   FOB–FreeonBoard–Salestermdenotingthatthesellerisresponsiblefordeliveringthegoodstotheportofloadingagreedinthecontractandforloadingthemontotheshipnominatedbythebuyer.Theriskoflossordamagetothegoodsgenerallypassesfromthesellertothebuyerwhenthegoodspassship’srailattheportofloading.   FOBCharges–Arecargohandlingchargesleviedontheshipperbytheshippinglineattheportofloading.   ForceMajeure–Circumstancewhichisbeyondthecontrolofoneofthepartiestoacontractandwhichmay,accordingtothetermsandconditions,relievethatpartyofliabilityforfailingtoexecutethecontract.   ForwardingAgentorForwarder–Personorcompanywhoarrangesthecarriageofgoodsandtheassociatedformalitiesonbehalfofashipper.Thedutiesofaforwardingagentincludebookingspaceonaship,providingallthenecessarydocumentationandarrangingExportCustomsclearance.Alsoreferredtoasfreightforwarder.   FoulBillofLadinq–SeedirtyBillofLading.   FOW–FirstOpenWater–TimeinSpringorearlySummerwhenrivers,lakes,orseasareunfrozenandsufficientlyfreeoficetobeopentonavigation.ThetermisnormallyusedintheGreatlakesorBaltictradesandusuallyreferstosometimeinApril.   FreeTime–Periodbetweenthetimeashipisreadytoloadordischarge,havinggivennoticeofreadiness,andthetimethatlaytimecommencesinaccordancewiththeCharter-Party,duringwhichthechartererorreceiverisnotobligedtoloadordischarge.ItisimportanttomakeprovisionintheCharter-Partyfortheeffectoflaytimeshouldthechartererorreceiverelecttoloadordischargeduringthisperiod.   FreightBroker–Isthebrokerwhoisalwayssuccessfulincontractingsomewhatabovethemarketlevel,butwhowillneverriskthelossofbusinessduetothedetailsofaparticularCharter-Partyclause.   FreightCollect–Freightpayableatdestination,alsoreferredtoasfreightforward.   FreightConference–Seeconference.   FreightForward–Seefreightcollect.   Freightforwarder–Seeforwardingagent.   FreightPayableatDestination–Methodofpayingthefreightoftenusedforshipmentsofbulkcargoeswhoseweightisestablishedondischargefromtheship.   FreightPrepaid–Freightwhichispayablebeforethecontracthasbeenperformed.Veryoften,thebillsofladingaresignedandexchangedwiththeshipperforhispaymentoffreight.   FreightQuotation–Freightquotedbyashippinglineorlinerconference,whichmaybegivenasanindicationonly.   FreightRate–Amountofmoneypaidtoashipownerorshippinglineforthecarriageofeachunitofcargo,suchasaton,acubicmeterorcontainerload.Alsoreferredtoasrateoffreight.   FreightTariff –Schedule,publishedbyalinerconferenceorshippingline,containingfreightratesforavarietyofcommoditieslikelytohecarriedbythelinesandwhetherthesearepayableontheweightofcommodityoritscubicmeasurement.Thetariffalsocontainsdetailsofchargesforheavyliftsandlonglengthcargoes,andterminalcharges.Apartfrommattersofrating,thetariffofalinerconferencestatesthegeographicalareasserved,thenamesofthememberlinesandtheconference’sgeneralregulations.   FreightTon–Unitofcargoonwhichafreightrateisbased,generallyonetonoronecubicmeterwhicheverisgreater.Alsocalledrevenueton.   FRT–Freight–Amountofmoneypaidbyashipownerorshippinglineforthecarriageofcargo.Dependingonthetypeofcontract,theparticulartermsand,insomecases,thecustomoftheportsinvolved,thefreightmayincludethecostofloadingand/ordischargingthecargoormaysimplycovertheoceancarriage.   GA–GeneralAverage–Intentionalactorsacrificethatiscarriedoutduringvoyagetopreservetheventurefromarealperil.Thepartywhohassufferedalossasaresultisreimbursedbyalltheotherpartiestothemarineadventure,eachpayingaproportionoftheamountofthelossaccordingtothevalueoftheirinterest.   Gless–GearlessShip–Shipwhichisnotequippedwithherowncrane(s)orderrick(s).Whencharteringorschedulingsuchashipforaparticularvoyage,itisnecessarytoensurethattheloadinganddischargingportshaveshorecranescapableofliftinguptotheheaviestpieceweightoftheship’scargo.   Gencon–WidelyusedgeneralpurposevoyageCharter-PartypublishedbyBIMCO.   GeneralAverageClause–ClauseinaBillofLadingorCharter-Partythatstipulatesinwhatcountryorplaceandbywhatrules.oftentheYork-AntwerpRules,generalaverageistobeadjusted.   GRI–GeneralRateIncrease–Periodicincreasetoallthebasefreightratesinthetariffofalinerconferenceorshippingline.   Grain/GrainCapacity–Totalcubiccapacityofaship’sholdsavailableforthecarriageofgrainoranyotherfree-flowingbulkcargowhichiscapableoffillingthespacebetweentheship’sframesItisexpressedincubicfeetorcubicmeters.SeecorrespondingtermbaleIbalecapacity.   GrossTerms–Typeofvoyagecharterinwhichtheshipownerpaysforloadinganddischarging.   Groupage–Seeconsolidation.   GroupageBillofLading–BillofLading,issuedbyacarriertoaforwardingagent,sometimesknownasagroupageagentorconsolidator,whichcoversconsignmentsfromvariousshippersforthesamedestinationwhichhavebeenconsolidatedintooneconsignmentbytheforwardingagent.EachshipperreceivesahouseBillofLadingfromtheforwardingagentcoveringhisconsignment.   GT–GrossTonnage–Thetotalofalltheenclosedspaceswithinashipexpressedintonseachofwhichisequivalenttoonehundredcubicfeet.ThistermwaspreviouslyreferredtoasGRT.   HA–Hatchway–Openinginthedeckofashipthoughwhichcargoisloadedinto,ordischargedfrom,thehold.   HagueRules–Rulesgoverningthecarriageofgoodsbyseaandidentifyingtherightsandresponsibilitiesofcarriersandownersofcargo.Theseruleswerepublishedin1924followinganinternationalconventionandweresubsequentlygiventheforceoflawbymanymaritimenations.   Hague-VisbyRules–Setofrules,amendingtheHagueRules,publishedandsubsequentlygiventheforceoflawbymanymaritimenations.   HalfHire–ProvisioninatimeCharter-Partythathalfofdailyhireispayableundercertaincircumstances.Forexample,ifashipislostatsea,ItmaybeagreedThathalfhireispayablefromthedatetheshipwaslastheardfromuntilthecalculateddateofarrivalatherdestination.   HamburgRules–Rulesgoverningtherightsandresponsibilitiesofcarrierandcargointerestswhichmaybeincorporatedintoacontractforthecarriageofgoodsbyseaeitherbyagreementofthepartiesorstatutorily.TheruleswereadoptedbytheUnitedNationsConventionontheCarriageofgoodsbyseain1978.   HarborDues–Chargeleviedagainstashipownerorshipoperatorbyaportauthorityfortheuseofaharbor.   HeadCharter–Contractforthecharterofashipbetweenherownerandacharterer.ThistermisusedtodistinguishbetweenthisCharter-Partyandanycontract:whichthecharterermayhavewithathirdpartytowhomhesub-letstheship.   HeadCharterer–Chartererwhosecontractisdirectwiththeshipownerinrespectofashipthatisbeingcharteredoutandthesub-chartered,perhapsseveraltimes.Theheadchartereristhusdistinguishedfromallthesub-charterers.   HireorHireMoney–Moneypaidbyacharterertoashipownerforthehireofashiptakenontimecharter.Itmaybeexpressed,forexample,asanamountperdayorperdeadweighttonpermonth,hireispayable,byagreement,atregularintervalssuchasmonthlyorsemimonthly,normallyinadvance.Itisimportantthathiremoneyispaidontimesinceotherwisetheshipownerhastherighttowithdrawtheshipfromtheserviceofthecharterer.   HireStatement–Writtenstatementoftheamountofhiremoneypayablebyatimecharterertoashipowner,showingthenumberofdaysthathaveelapsedsincethecommencementofthecharterorsincelaststatement.Deductionsmaybemadeforitemsdisbursedbythechartereronbehalfoftheshipowner,suchascashadvancedtothemaster,claimsagainsttheshipownerandoffhireperiodsarealsooftendeducted.Thefirstandlaststatementsdetailthequantityofbunkersonboardatthetimeofdeliveryandredeliveryrespectivelyoftheship,andcorrespondingadjustmentsmadetotheamountsoftheremittancestotakeaccountofthepurchaseofbunkersonboardondeliverybythechartererandthesubsequentsaleofbunkersonboardonredeliverytotheshipowner.   Ho.–Hold–Spacebelowthedeckofaship,usedforcarrycargo.Ifashiphasmorethanonehold,theyarenumberedconsecutivelyfromoneupwardsstartingwiththeforward-most;thisisdoneforthepurposesofidentifyingtheholdandlocatingcargostowedinthem.   HouseBillofLading–BillofLadingissuedbyaforwardingagenttoashippercoveringaconsignment,whichtheforwardingagenthasgroupedwithconsignmentsfromothershipperstothesamedestination.TheforwardingagentreceivesonegroupageBillofLadingfromthecarrierthatcoversalltheconsignments.   HusbandryAgent–Thisistheagentappointedbytheshipownerstoattendonlytothosenon-cargomatters–specificallythosemattersconcerningvesselcrew,repairs.supplies,andprovisioningandclassificationsocietysurveys.   HWONT–Highwaterordinaryneaptides.   HWOST–Highwaterordinaryspringtides.   IceClause–ClauseinaBillofLadingorCharter-PartythatsetsouttheoptionsavailabletothepanicstothecontractofcarriageinTheeventthatnavigationispreventedortemporarilydelayedbysevereiceconditions.Thewordingoftheclauseandtheoptionsvaryaccordingtotheindividualcontract:amastermayhavetherighttodiverttheshiptothenearestsafeporttodischargecargodestinedforanice-boundport.Equally,acharterermayhavetheoptionofkeepingashipwaitingforiceconditionstoclearonpaymentofdemurrage.   IdentityofCarrierClause–ClauseinaBillofLadingwhichstipulateswhothecarrieris,thatis,thepart)responsibleforthecareofthecargounderthetermsofthecontractofcarriage.ThisisnormallytheshipownersincethepartyissuingtheBillofLadingmayhavecharteredtheshipandmaynotberesponsibleforthenavigationoftheshipnorforthehandlingofthecargo.Therearesomecountriesinwhichthisclausemaynotbeupheld.   Incoterms–Rulesgoverningtheinterpretationoftermsusedininternationaltrade,publishedbytheInternationalChamberofCommerce.Againsteachofthetermsofsale,suchasFOB,CIFandDDP,aredefinedthedutiesofbuyerandseller.Theserulesareincorporatedintoacontractofsalebyagreementofthetwoparties.   Indemnity–Compensationofferedbyonepartytoanotherfortheconsequencesofcarryingout,oromittingtocarryout,acertainact.Anindemnityisusuallygiveninwritingbutisunenforceableinacourtoflawiftheactforwhichitisgivenisintendedtodefraudaninnocentthirdparty.   IndependentLine–Shippinglinethatoperatesonarouteservedbyalinerconferencebutwhichisnotamemberofthatconference,alsoreferredtoasanon-conferencelineoranoutsider.   Inducement–Minimumquantityofcargoorfreightrequiredbyashippinglinetomakeitworthwhiletocallataparticularportofloadingordischarging.Suchacargoiscalledaninducementcargoorinducementrate.   Inherentvice–Thetermsmeananyexistingdefects,diseases,decayortheinherentnatureofthecommoditythatwillcauseittodeterioratewithalapseoftime.Examplesofgoodsthataresubjecttoinherentviceareagriculturalcommodities,suchasfruitsandvegetables,andtobacco,whichhavethetendencytoover-heatandtobesubjecttospontaneouscombustion.Mildrustonmetalcreatedbyatmosphericconditionsisaninherentvice.   IWLInstituteWarrantyLimits–Geographicallimitswithinwhichashipmaynavigatewithoutincurringanyadditionalinsurancepremium.   IntakenWeight –Actualweightofcargoloadedonboardaship.   InterclubAgreement–AgreementbetweenanumberofmajorprotectionandindemnityclubsonthemethodofapportioningliabilityforlossanddamagetocargocarriedinshipscharteredunderaNewYorkProduceExchangeCharter-Party.   InterimVoyage–Voyageundertakenbyashipbetweenthetimessheischarteredforaspecificvoyageandthetimesheperformsit.   IntermodalTariff–Tarifforfreightratesofashippinglineorlineconferencecoveringinlandaswellasoceanlegs.   “Issued”Charter–AformofCharter-PartyfortheestablishmentofwhichitmightbesaidthatBIMCOisresponsible,isreferredtoas“issued”byBIMCO.   JettisonClause–ClauseinaBillofLadingorCharter-Partysettingoutthecircumstancesunderwhichamasterisentitledtojettisongoodsfromaship.   JointSurvey–Inspectioncarriedoutbyasurveyoronbehalfoftwoparties,thecostgenerallybeingbornebyboth.   JurisdictionClause–ClauseinaBillofLadingorCharter-Party,whichstipulatesthatanydisputebetweenthepartiesarisingfromthecontract,beresolvedinacourtoflaw,asopposedtoarbitration.Italsospecifieswhichcountyhasjurisdiction,thatis,theauthoritytoadministerjustice.Alsoknownaslitigationclause.   KG(s)–Kilograms(s)   KT–Knot   Laydays–DaysallowedbytheshipownertothevoyagechartererorBillofLadingholderinwhichtoloadand/ordischargethecargo.Seealsolaytime.   LaycanorL/C–LaydaysCanceling–Periodduringwhichtheshipownermusttendernoticeofreadinesstothechartererthattheshiphasarrivedatthepodofloadingandisreadytoload,Thisperiodisexpressedastwodates,forexamplelaydays25Marchcanceling2Aprilor,whenabbreviatedaslaycan,laycan25March/2April.Thechartererisnotobligedtocommenceloadinguntilthefirstofthesedatesiftheshiparrivesearlierandmayhavetheoptionofcancelingthecharteriftheshiparrivesafterthesecondofthedates,knownascancelingdate.   Laytime–TimeallowedbytheshipownertothevoyagechartererorBillofLadingholderinwhichtoloadand/ordischargethecargo.Itisexpressedasanumberofdaysorhoursorasanumberortonsperday.ThereisnormallyaprovisionintheCharter-Partyforthecommencementoflaytime,whichisoftenatacertainhourafternoticeofreadinesshasbeentenderedbythemaster,aprovisionforperiodswhenlaytimedoesnotcount,forinstanceduringbadweather,weekendsorholidaysoraprovisionforlaytimebeingexceeded,whendemurrageordamagesfordetentionbecomepayable,ornotbeingfullyused,whendespatchmaybepayable.   LaytimeSaved–Charter-Partytermusedtodefineonemethodbywhichdespatchmoneyiscalculated,thatis,bydeductinglaytimeusedfromlaytimeallowed.Ifforexample,aCharter-Partyprovidesfor6laydaysforloadingandthechartereruses3days,heisentitledto3daysdespatchmoney.Alsoreferredtoasworkingtimesaved.   LaytimeStatement–Portionofatimesheet,whichdetailstheamountoflaytimeusedbyavoyagecharterer.   L/C–Letterofcredit.   LCL–LessthanContainerLoad–Consignmentofcargo,whichisinsufficienttofillashippingcontainer.Itisgroupedwithotherconsignmentforthesamedestinationinacontaineratacontainerfreightstation.   LetterofIndemnity–Writtenstatementinwhichonepartyundertakestocompensateanotherforthecostsandconsequencesofcarryingoutacertainact,forexample,ashipperwhohasbeendelayedinsendinganoriginalBillofLadingtothereceivermayinstructthemasteroftheshiportheshipownertoreleasethegoodstoanamedthirdpartywithoutproductionofanoriginalBillofLading.Themasterorowner,iftheyagree,mayrequirealetterofindemnityfromtheshipperfortheconsequencesofcomplyingshoulditturnoutthatthenamedpartyisnotentitledtotakedeliveryofthegoods.Itshouldbenotedthat,asarule,anysuchletterthatseekstoindemnifyagainstanact,whichisintendedtodefraudaninnocentthirdparty,isunenforceableinacourtoflaw.   LienClause–ClauseinavoyageCharter-Partywhichentitlestheshipownertoexercisealienonthecargo,thatis,toretaincontrolofthecargountilanyfreight,deadfreightordemurragewhichisowingispaid.Thisprovisionisoftenincorporatedintothecesserclause,whichseekstorelivethechartereroncethecargohasbeenshipped.   LIFO–LinerInFreeOut–Qualificationtofreightratedenotingthatitisinclusiveoftheseacarriageandthecostofloading.Itexcludesthecostofdischarging,whichispayablebytheshipperorreceiver,asthecasemaybe.Theremaybealaytimeanddemurragearrangementattheportofdischargingsincethecarrierhasnocontroloverthedischarging.   LinerBillofLading–BillofLadingcontainingthetermsandconditionsofcarriageofashippingline.   LinerWaybill–Document,issuedbyashippinglinetoashipper,whichservesasareceiptforthegoodsandevidenceofthecontractofcarriage.IntheserespectsitresemblesaBillofLadingbut,unlikeaBillofLading,itisnotadocumentoftitle;itbearsthenameoftheconsigneewhohasonlytoidentifyhimselfinordertotakedeliveryofthecargo.Becauseitisnotnegotiable,thelinerwaybillisnotacceptabletothebanksascollateralsecurity;thepurposeofthelinerwaybillistoavoidthedelaystoshipsandcargoesthatoccurwhenbillsofladingarelateinarrivingatthedischargeport.Thelinerwaybillisalsoreferredtoasaseawaybilloranoceanwaybillorsimplywaybill.   Linertime–DeepseatimeCharter-PartypublishedbyBIMCO,usedwhenshipsarecharteredforlineroperation.   LoadingBroker–Companythatrepresentsashippinglineattheportofloading.Itsdutiesaretoadvertisetheline’ssailings,toobtaincargoesandco-ordinatetheirdeliverytotheshipandtosignbillsofladingonbehalfofthemaster.   Loose–Saidofaconsignment,whichconsistsofsinglepiecesnotbundledtogether.   LONL—LostorNotLost–Termwhichmaybeusedincontractsofcarriageinwhichthefreightisprepaid:often,freightisnotreturnablewhethertheshipand/orthecargoarelostornotoncehavingcommencedthevoyage.Manycharter-partiesprovidethatbrokeragecommissionispayablewhethertheshipislostornot.   LS–Lumpsum.   LT–LinerTerms–QualificationtoafreightratewhichsignifiesthatitconsistsoftheoceancarriageandthecostofcargohandlingattheLoadinganddischargingportsaccordingtothecustomofthoseports.Thisvarieswidelyfromcountrytocountryand,withincountries,fromporttoport:insomeports,thefreightexcludesallcargohandlingcostswhileinothersthecostofhandlingbetweentheholdandtheship’srailorquayisincluded.   LumpSumCharter–Voyagecharterforwhichthefreightispayableasalumpsumratherthanpertonorotherunitofcargo.Theshipownerguaranteestoliftacertainquantityofcargobutthechartererpaysthesameamountforfreightirrespectiveofthequantityloaded.   LWONT–LowWaterOrdinaryNeapTides.   LWOST–LowWaterOrdinarySpringTides.   Manifest–Documentcontainingafulllistofship’scargo,extractedfromthebillsoflading.Acopy,knownastheoutwardmanifest,islodgedwiththeCustomsauthoritiesattheportofloading.Afurthercopy,knownastheinwardmanifest,issimilarlylodgedatthedischargeport,withonecopygoingtotheship’sagentsothattheunloadingoftheshipmaybeplannedinadvance.   Max–Maximum.   MHWN–MeanHighWaterNeaps.   MHWS–MeanHighWaterSprings.   Min–Minimum.   Min/Max–Minimum/Maximum–Whenqualifyingthecontractualquantityinavoyagecharter,thistermsignifiesthatthefreightispayableonthatprecisequantity,nomoreandnoless.   Misdescription–Incorrectinformationconcerningashipgivenbytheshipownertoachartererorconcerningcargogivenbyachartererorshippertoashipownerorshippingline.Thismaygiveraisetoaclaimforextracostsordamagesor,insomecases,cancellationofthecontractofcarriage.   MLWN–Meanlowwaterneaps.   MLWS–Meanlowwatersprings.   MOL–MoreorLess.   Molchop–MoreorLessinCharterer’sOption–Optionallowedtoavoyagecharterertoloaduptoacertainquantity,normallyexpressedasapercentageoranumberoftons,overorunderaquantityspecifiedinthecontractofcarriage.Thisoptionmay besoughtifthechartererisnotcertainoftheexactquantitythatwillbeavailableatthetimeofloading.   MOLOO–MoreorLessinOwner’sOption–Optionallowedtoashipownertocarryuptoacertainquantity,normallyexpressedasapercentageornumberoftons,overorunderaquantityspecifiedinthevoyagecharter.Thisoptionmaybesoughtiftheshipownerisnotcertainwhattheship’scargocapacitywillbe,takingintoconsiderationbunkers,storesandfreshwater,orifhewantsflexibilitytoadjusttheship’strim.   Moreindisputeifonboardtobedelivered–NotationappearingonaBillofLadingwhentheshipperisIndisagreementwiththeshipastothenumberofpiecesorpackagetalliedonboard.   M/R–Mate’sReceipt–Receiptmadeoutbythefirstofficer,statingthequantityandconditionofthegoodsloadedonboardtheship.ThisdocumentisgiventotheshipperandlaterexchangedfortheBillofLading.   MS–Motorship.   MT–Metricton–1,000kilograms.   MV–Motorvessel.   NAABSA–NotAlwaysAfloatButSafeAground–ProvisioninaCharter-Partythatthechartererhastherighttoordertheshiptoaportwhereshemaytouchthebottominsafety.   NegligenceClause–ClauseinaBillofLadingorCharter-Partywhichseekstorelievetheshipownerorcarrierofliabilityforlossescausedbythenegligenceofhisservantsoragents.   NewJasonClause–ProtectiveclauseinsertedintoaCharter-PartyorBillofLadingwhichprovidesthattheshipownerisentitledtorecoveringeneralaverageevenwhenthelossiscausedbynegligentnavigation.TheneedforsuchaclausearisesfromthedecisionofanAmericancourtthat,whileAmericanlawexemptedashipownerfromliabilityforlossordamagetocargoresultingfromnegligentnavigation,thisdidnotentitletheshipownertorecoveringeneralaverageforsuchaloss.   NOE–NotOtherwiseEnumerated–Categoryinafreighttariffofashippinglineorlinerconferencewhichcoverscommoditiesnotspecificallydescribedelsewhereinthetariff.   Nomination–Designationofaspecificshipforaparticularvoyagebyashipownerorshippingline.   Non-ConferenceLine–Seeindependentline.   Non-NegotiableBillofLading–BillofLadingwhichisnotasigned,originalBillofLadingandwhichisthereforenotcapableofbeingusedtotransfertitleinthegoodsdescribedinit.   Non-ReversibleLaytime–TermusedinavoyageCharter-Partytosignifythatthetimeallowedtothechartererforloadingistobetreatedseparatelyfromthetimeallowedfordischargingforthepurposeofcalculatingdemurrageordespatch.   NOR–NoticeofReadiness–Provisioninavoyagecharterthattheshipownerormastermustadvisethechartererwhentheshiphasarrivedandisreadytoloadordischargeforlaytimetostartcounting.Theclausecontainingthisprovisionoftenstipulatestheparticularhoursanddayswhenthisnoticemaybetenderedandhowsoonafterwardslaytimecommences.   NOS–NotOtherwiseSpecified–Seenototherwiseenumerated.   NoticeofRedelivery–Writtennoticegivenbythetimecharterertotheshipownergivingthedatewhentheshipistobereturnedtotheshipownerattheendoftheperiodofthecharter.Charter-partiesoftenstipulatethatseveralsuchnoticesbegivenatagreedintervalsasthedateofredeliveryapproaches.   NotifyParty–PartywhosenameandaddressappearsinaBillofLadingwhoistobenotifiedbytheshippingcompanyoritsagentofthearrivalofthegoodsatthedischargeport.Thenotifypartyisoftenanagentforthereceiverofthegoodswhoarrangesfortheirclearanceandtransporttothereceiver’spremises.ThereisnormallyaboxontheBillofLadingintowhichthedetailsofthenotifypartyareinserted.   NT–NetTonnage–Thetotalofallenclosedspaceswithinashipavailableforcargoexpressedintonseachofwhichisequivalenttoonehundredcubicfeet.ThistermwaspreviouslyreferredtoasNRT.   OceanWaybill–Seelinerwaybill.   OffHire–Saidofashipontimecharterforwhichhiremoneyhastemporarilyceasedtobepaidbythecharterer,forexamplebecauseofbreakdownoftheshiporherequipment.   OffHireSurvey–Inspectioncarriedoutatthetimeashipisredeliveredbyatimecharterertoashipownerattheendoftheperiodofthecharter.Theinspectioniscarriedouttodeterminewhethertheshipisinthesamecondition,wearandtearexcepted.asondelivery.ThequantityofbunkersisascertainedforcomparisonwiththeamountsspecifiedintheCharter-Party.Byagreement,theshipisinspectedbyonesurveyorforeachofthetwoparties.WhichpartypaysforthesurveyandwhetherthetimetakencountsforthepurposeofcalculatinghiremoneyaremattersagreedintheCharter-Party.   OO–InOwner’sOption–TerminaCharter-Party,whichstipulatesthattheshipownerhasachoiceinspecificcircumstances.Forexample,inavoyagecharter,theownermayhavetheoptionofspecifyingtheexactquantityofcargotobeloaded.   Open–Saidofashipthatisavailableasfromaspecifieddateataparticularplacetosteamtoanotherport.ifnecessary.toloadhernextcargo.havingdischargedthelastone.   OpenConference–Linerconferencethatdoesnotrequireitsmemberlinestovoteontheadmissionofanewmember.   OpenRate–Freightratenegotiatedbyashipperorfreightforwarderwithashippinglineorlinerconferenceforshippinginexcessofaminimumagreedquantityofcargoonanyoneship.Itislowerthanthepublishedtariffrateandgenerallyappliestotheshipmentsofonecommodityfromonepodofloadingtooneportofdischarging.   Orders–Setofinstructionsgivenbytheshipownerorshipoperatortothemasterofashipconcerningthenextvoyage.Theseinstructionsincludethenamesoftheintendedportsofloading,bunkeringanddischargingtogetherwiththenames,addresses,telephonenumbersandcableaddressesoftheship’sagentsateachport,detailsofthecargo,ascheduleofbunkersneededforthevoyageisnotknown.Ashipissaidtobeawaitingordersandthemastermaybeinstructedtoanchorwhereheisortosteaminthedirectionoftheareawheretheshipownerexpectstofindacargo.   OriginalBillofLading–BillofLadingwhichbearstheoriginalsignatureofthemasterofashiporhisagent.Itisexchangedforthegoodsattheplaceofdestinationofthecontractofcarriage.   OSB–OneSafeBerth–Seesafeberth.   OSP–OneSafePort–Seesafeport.   OS&D–Over,ShortandDamageReport–Seeoutturnreport.   OT–Overtime.   Outsider–Seeindependentline.   OutturnReport–Writtenstatementbyastevedoringcompanyinwhichtheconditionofcargodischargedfromashipisnotedalongwithanydiscrepanciesinthequantitycomparedwiththeship’smanifest.Alsoreferredtoasanover,shortanddamagereport.   OurturnWeight–Weightofcargoascertainedwhenitisdischargedfromaship.Freightonbulkcargoesissometimespayableonthebasisofthisweight.   Overlap–Theperiodoftimeduringwhichachartererretainsavesselbeyondthestatedperiodofthetimecharter.   Overage–Cargodischargedinexcessofthequantityontheship’smanifest.   Overtonnaging–Situationwheretherearetoomanyshipsgenerallyorinaparticulartrade,forthelevelofavailablecargoes.   OwnersAgents–Ship’sagentnominatedby,andpaidby:theshipownerinaccordancewiththeCharter-Party.   OwnersBroker–Shipbrokerwhoactsonbehalfofashipownerinthenegotiationsleadingtothecharteringoutoftheowner’sship.   OwnersMarket–StrongmarketinfavorofShipOwner’s.   ParamountClause–ClauseinaBillofLadingorCharter-PartywhichstipulatesthatthecontractofcarriageisgovernedbytheHagueRulesortheHague-VisbyRulesortheenactmentofthesemilesinthecountryhavingjurisdictionoverthecontract.   PartCargo–Goodswhichdonotrepresenttheentirecargoforaparticularshipbutwhosequantityissufficienttobecarriedonthecharterterms.   PartCharter–Thecharteringofashiptocarryaquantityofgoods,whichrepresentsonlyapartofthecargo.   PerformanceClaim–ClaimmadebythetimechartereragainstashipownerwhentheshiphasbeenunabletoachievethespeedagreedintheCharter-Partyorhasconsumedtoomuchfuelorboth.   PerformanceClause–ClauseinatimeCharter-Partywhichstipulatesthat,shouldtheshipbeunabletoachievetheagreedspeedorshouldsheconsumetoomuchfuel,thechartererisentitledtorecoverfromtheshipownerthecostoftimelostandextrafuel,normallybymeansofadeductionfromhiremoney.   PFT–PerFreightTon—seefreightton.   PLTC–PortLinerTermCharges–Cargohandlingchargesleviedontheshipperbytheshippinglineattheportofloading.   PointtoPortRate–Freightratewhichincludesallcostsfrominlandplaceoftheexportingcountrytotheportofdischargeintheimportingcountry.   Pooling–Sharingofcargoortheprofitorlossfromfreightbymemberlinesofalinerconferencepoolingarrangementsdonotexistinallconferences.   PorttoPointRate–Freightratewhichincludesallcostsfromtheportofloadingintheexportingcountrytoaninlandplaceintheimportingcountry.   PostFixture–Afterthecontractforthecharterofashiphasbeenagreed.Saidofworkcarriedoutbyashipowner,chartererorshipbroker,includingpaymentofhireorfreight,calculationofdespatchordemurrageandtheresolutionofanydisputes.   Preamble–FirstfewlinesofaCharter-Partyinwhichthepanicstothecontractandtheshipareidentified.   PrivateForm–StandardCharter-Partydevisedandusedbyaparticularcompany.Oilcompanieswhencharteringtankersusethemajorityofthesecharter-parties.   ProFormaCharter-Party–Documentcontainingallthetermsandconditionsofacontractbetweenashipownerandachartererbutwhichisunsignedandthereforeisnotacontractitself.   ProFormaDisbursementsAccount–Statementsentbyaship’sagentataporttotheshipownerinadvanceoftheship’scallattheport.Itconsistsoftheexpensesthatarelikelytobeincurred,includingportcharges,pilotage,towageandtheagent’scommission.Thisaccountisusedtohelptheshipownerestimatetheviabilityofavoyageandservesasarequestbytheagentforsufficientfundstobemadeavailablepriortotheship’sarrival.   ProtectingAgent–Agentappointedbytheownersorchartererstoprotecttheirinterestandtosupervisetheworkcarriedoutbytheship’sagentwhen.undertheCharter-Party.thevesselisconsignedtoanother’sagent.IftheCharter-Partycallsforowner’sagents,thecharterersmayappointaprotectingorsupervisoryagenttoprotecttheirinterestattheportofloadingand/ordischarge.Thesameappliestoshipowners,timecharterersandvoyagecharterers.   ProtectiveClauses–ClausesinaCharter-Partywhichprovidecontingenciesforunforeseensituations,suchasice,strikes,generalaverageorcollision.Alsoknownasprotectingclause.   Purposes–TimeallowedinavoyageCharter-Partyforloadinganddischargingcombined,expressedasanumberofdaysorhours.Alsoreferredtoasallpurposes.   RateofDemurrage–Amountpayablebyavoyagecharterertoashipownerforeachdayusedtoloadand/ordischargecargoinexcessofthetimeallowedintheCharter-Party.   RateofDischarging/Loading–Numberoftonsofcargodischarged/loadedeachdayfrom/intoaship.Suchaprovisionisoftenincludedinthetermsofavoyagecharter.   RateofFreight–Seefreightrate.   ReceivedforShipmentBillofLading–BillofLadingevidencingthatthegoodshavebeenreceivedintothecareofthecarrier,butnotyetloadedonboard.Italsoservesasevidenceofthecontractofcarriageandisadocumentoftitle,althoughbecausethegoodshavenotnecessarilybeenloadedontotheship,thistypeofBillofLadingisnotalwaysacceptabletobanksascollateralsecurity.   Receiver–Partywhoreceivesthecargoattheplaceofdestinationinthecontractofcarriage.   “Recommended”Charter–Whentherehasbeennopropergroupsofchartererswithwhomtonegotiateaparticularcharter,forinstance.“Gencon”Charteritisissuedasa“recommended”charter.Thesameisthecaseifthepartieswithwhichacharterhasbeennegotiatedwillnotbeabletobindtheirmemberstousethecharterasacleandocument.Thisistheposition,forinstance,forthe“Norgrain”Charterandthe‘Nuvoy”Charter.WhereasBIMCOnaturallywishestheprintedtextofa“recommended”chartertobefollowedbycharterersandshipowners.therewerenocompulsioninthisrespect.   Redly–Redelivery–Returnofashipbythetimechartertotheshipownerattheendoftheperiodofthecharter.   RedeliveryCertificate–Documentsignedbyoronbehalfoftheshipownerandthecharterer,certifyingthetime,dateandplaceofredeliveryoftheship,thatis,thereturningoftheshipbythetimecharterertotheshipownerattheendoftheperiodofcharter.Thecertificatealsostatesthequantityofbunkersonboardatthetimeredelivery.   ReleaseaBillofLading(to)–ToprovidetheshipperwithanoriginalBillofLading,ofteninexchangeforthefreight.   ReversibleLaytime–TermusedinavoyageCharter-Partytosignifythatthetimeallowedforloadingmayatthecharterersoption,beaddedtothetimeallowedfordischargingforthepurposeofcalculatingdemurrageordespatch.   RT–RevenueTon–Unitofcargoonwhichafreightrateisbased,generallyonetonoronecubicmeterwhicheverisgreater.Alsocalledfreightton.   RoundVoyage–Voyageinvolvingtwolegsthesecondofwhichbringstheshipbacktothegeographicalareawherethefirstlegcommenced.   RunningDays–Consecutivedaysof24hoursincludingweekendsandholidays.   Saleform–Memorandumofagreementgivingdetailsofthepurchaseofaship,devisedbytheNorwegianShipbroker’sAssociation.   SB—SafeBerth–Terminacharterpartywhichplacestheresponsibilityontothecargointereststoorderthecharteredshiptoaberthwhichisphysicallysafeforherwhilesheisthereforthepurposeofloadingordischarging.   SD–Singledeckship.   SeaWaybill–Seelinerwaybill   Seaworthiness–Fitnessofashipforaparticularvoyagewithaparticularcargo.Themainrequirementsforseaworthinessarethatashiphassufficientcrew,storesandfuel,themachineryandequipmentareingoodrepairandthattheshipisfittoreceiveancarrythecargo.   ServiceAgreementorServiceContract–Agreementbetweenashipperandalinerconferenceinwhichtheshipperundertakestoshipsomeorall,asthecasemaybe,ofhiscargoonconferencelineshipsforaspecificperiodoftimeinreturnforanagreedrateoffreightandlevelofservice.Somecontractsrequiretheshippertoachieveaminimumquantityofcargoovertheagreedperiod.   SHEX–SundaysandHolidaysExcepted–Charter-PartytermwhichprovidesthatSundaysandpublicholidaysdonotcountinthecalculationoflaytime.Seealsoevenifused.andunlessused.   SHINC–SundaysandHolidaysIncluded–Charter-Partyterm,whichprovidesthatSundaysandpublicholidayscountinthecalculationoflaytime,whetherornotusedforloadingordischarging,asthecasemaybe.   Shipbroker–Personhavingoneorseveraloccupations:charteringagentorowner’sbroker,negotiatingthetermsforthecharterofashiponbehalfofachartererorshipownerrespectively,saleandpurchasebroker,negotiatingonbehalfofabuyerorsellerofaship:ship’sagent,attendingtotherequirementsofaship,hermasterandcrewwheninportonbehalfoftheshipowner,loadingbroker,whosebusinessistoattractcargoestotheshipsofhisprincipal.   ShippedBillofLadingorShippedonBoardBillofLading–BillofLadingissuedwhenthegoodshavebeenloadedonboardtheship.ThistypeofBillofLading,whichmustcontainareferencetothegoodshavingshippedonboard,isoftenrequiredbybankswhoadvancemoneyusingtheBillofLadingascollateralsecurityandwhowishtobesatisfiedthatthegoodsareonboardtheship.   Shipper–Personorcompanywhoentersintoacontractwithalinerconference,shippinglineorshipownerforthecarriageofgoods.   Ship’sAgent –Personwholooksaftertheinterestsofashipwhilesheisinport.Hisdutiesincludethearrangingofpilotage,towageandaberthfortheship,thesigningofbillsofladingandthecollectionoffreight.Theagentispaidafee,agreedinadvancewiththeshipowner.   ShortFormBillofLading–BillofLadingwhichdoesnothaveprintedonitthefulltermsandconditionsofthecontractofcarriagebutinsteadcontainsareferencetothecarrier’sconditions,normallystatingthatacopyisavailableonrequest.   ShortShipment–Partofconsignmentwhichhasnotbeenshippedinaspecificship,normallybecausetherewasinsufficientspaceintheshiporbecausethegoodsarrivedattheportofloadingaftertheshiphascompletedloadingorhassailed.   SimSub.–SimilarSubstitute–shipofferedbyashipownertoachartererasareplacementfortheoneoriginallycharteredwhichissimilarinrespectoftheprincipalcharacteristics,whichincludedeadweight,capacitiesandholdandhatchsizes.   SisterShip–Shipwiththesamespecificationasanother.Thisissometimesofferedtoachartererbyashipownerwhohastwoormoreidenticalshipsbutisnotcertainatthetimeofnegotiatingthecharterthatwillbeinthemostsuitablegeographicalpositiontoperformthevoyage.   SP–SafePort–TerminaCharter-Partywhichplacestheresponsibilityontothecargointereststoorderthecharteredshiptoapodwhichisphysicallyandpoliticallysafeforhertoreach,remainandleave,takingintoconsiderationthecargotobeloadedordischarged.   S&PSaleandPurchaseBroker–Personwhonegotiatesthetermsforthesaleofashiponbehalfofthebuyerorseller.   SSHEX–Saturdays,SundaysandHolidaysExcepted–Charter-PartytermwhichprovidesthatSaturdays.Sundaysandpublicholidaysdonotcountinthecalculationoflaytime.Seealsoevenifused,andunlessused.   SSHINC–Saturdays,SundaysandHolidaysIncluded–Charter-PartytermwhichprovidesthatSundaysandpublicholidayscountinthecalculationoflaytime.whetherornotusedforloadingordischarging,asthecasemaybe.   StatementofFacts–Statement,preparedbytheship’sagentattheloadinganddischargingports,whichshowsthedateandtimesofarrivaloftheshipandthecommencementandcompletionofloadinganddischarging.Itdetailsthequantityofcargoloadedordischargedeachday,thehoursworkedandthehoursstoppedwiththereasonsforthestoppages,suchasbadweather,astrikeorbreakdownofequipment.   Stem–Availabilityofacargoonthedateordatesonwhichashipisofferingtoload.   StrikeClause–ClauseinaBillofLadingorCharter-Partythatsetsouttheoptionsavailabletothepartiestothecontractofcarriageintheeventthatastrikepreventsorinterruptstheloadingordischargingofthecargo.Thewordingoftheclauseandtheoptionsvaryaccordingtotheindividualcontract.Inthecaseofacharter,theclausemaycontainaprovisionfortheeffectofastrikeonlaytime.   Sub-Charterer–Personorcompanywhochartersashipforaparty,whoisnottheownerbutwho,inturn,hascharteredtheship.   Sub-Freight–Freightpayablebythesub-charterer,normallytothecharterer.   Sub.Details–SubjectDetails–Termqualifyinganofferorcounter-offerforthecharterofashipwhichdemotesthatonlyminordetailsremaintobeagreed.ItiswidelyacceptedthattheconclusionofacontractisconditionalonthesedetailsbeingagreedalthoughanAmericancourthasruledthattheacceptanceofsuchofferorcounter-offerissufficienttocreateacontract,leavingthedetailstobeagreedsubsequently.   Sub.Free–SubjectFree–Termusedinanoffermadebyashipownertosignifythattheacceptanceofthatofferwillonlyresultinacontractifonehasnotbeenconcludedinthemeantimewithathirdparty.Alsoreferredtoassubjectopenorsubjectunfixed.   Sub.Open–SubjectOpen–seesubjectfree.   Sub.Unfixed–SubjectUnfixed–Seesubjectfree.   SubjectStem–Subjecttotheavailabilityofthecargoonthedatesonwhichashipisofferingtoload.   Sub-Let–Thecharterofashiptoonepartybyanotherpartywhoisnottheownerbutwho,inturn.hasthecharteroftheship.Alsoreferredtoasasub-charter.   Substitute–Replacementforashipforaparticularvoyage.   Substitution–Thereplacementofashipwithanothership.AshipowneroftenhasanoptioninavoyagetoemployashipotherthantheonenamedintheCharter-Partysincehemaynotknowwhichofhisshipswillbecapableofperformingthevoyageatthetimethecontractisconcluded,particularlyifthisisdonewellinadvanceofloading.   SWL–SafeWorkingLoad–Maximumloadwhichcansafelybebornebyaliftingorhaulingappliance,suchascraneorwinch.Thesafeworkingloadisgenerallymarkedclearlyontheequipmentandmustnotbeexceeded.   TARound–Transatlanticroundvoyage.   Tariff–Scheduleofcharges.suchasthefreighttariffofashippinglineorconference,inwhicharepublishedfreightrates,generallyforawidevarietyofcommodities.   TBA–Tobeadvised.   TBN–ToBeNominated–Saidinrespectofavoyageforwhichaspecificshiphasyettobedesignatedbytheshipownerorshippingline.   TenderNoticeofReadiness(to)–Asmasterofashiptopresentcargointerestsortheiragentwithwrittennoticethattheshiphasarrivedandisreadytoloadordischarge,asthecasemaybe.somecharterpartiesprovidethatthisnoticemaybeofferedatcertaintimesonly,forexampleduringofficehours.   TEU–TwentyFootEquivalentUnit–Unitofmeasurementequivalenttoone20footshippingcontainer.Thusa40-footcontainerisequaltotwot.e.u.s.Thismeasurementisusedtoquantifyforexample,thecontainercapacityofaship,thenumberofcontainersonaparticularvoyageoroveraperiodoftime,oritmaybetheunitonwhichfreightispayable.   ThroughBillofLading–BillofLadingissuedbyashippinglineforavoyagerequiringon-carriage,thusinvolvingatleastonetransshipment.Accordingtotheparticularcontract,theissueroftheBillofLadingmayberesponsibleforthegoodsthroughoutthevoyageoronlyforoneleg,actingasagentfortheon-carriage.Oftenreferredtosimplyasathroughbill.   Time–Frequentlyusedtermtomeanlaytime.   TimeCharter–Thehiringofashipfromashipownerforaperiodoftime.Underthistypeofcontract,theshipownerplaceshisship,withcrewandequipment,atthedisposalofthecharterer,forwhichthechartererpayshiremoney.Subjecttoanyrestrictionsinthecontract,thechartererdecidesthetypeandquantityofcargotobecarriedandtheportsofloadinganddischarging.Heisresponsibleforsupplyingtheshipwithbunkersandforthepaymentofcargohandlingoperations,podcharges,pilotage,towageandship’sagency.Thetechnicaloperationandnavigationoftheshipremaintheresponsibilityoftheshipowner.Ashiphiredinthiswayissaidtobeontimecharter.   TimeCharterer–Apersonorcompanywhohiresashipforaperiodoftime.   TimeCharter-Party–Adocumentcontainingthetermsandconditionsofacontractbetweenachartererandashipownerforthehireofashipforaperiodoftime.   TimeLostWaitingforBerthtoCount–ACharter-PartyexpressionwhichdenotesthatthelaytimearetostartfromthetimetheNoticeofreadinessispresentedbythemastertothecharterer’sagent,ever,thoughvesselisheldupbecausenoberthisavailable.   Timereversible–Overallcalculationsoflaydays,inloadinganddischarginginavoyageCharter-Party.Timesavedinloadingcanbemadeupfrotimelost,ifany,indischargingorviceversa.   TimeSheet–Statement,drawnupbytheship’sagentattheloadinganddischargingports,whichdetailsthetimeworkedinloadingordischargingthecargotogetherwiththeamountoflaytimeused.Thislatterfigure,whencomparedwiththetimeallowedinthevoyageCharter-Party,isusedbytheshipownerandcharterertocalculatedemurrageordespatch,asthecasemaybe.   TimetoBeginonArrival–ACharter-Partyclausereferringtothelaytimeinthestrictsensethattimeistocountimmediatelyonrivalattheportofloadingordischargingirrespectivewhetheraberthisavailableornot.   TonMile–Unitcargoton/distancecarriedandcovered.Thisisarrivedatasfollows.iftwotonsofmerchandisearecarriedfor25miles,thenthe“tonmile”willbe2x25or50tonmiles.   TPC–TonsperCentimeter–Aquantity,forexampleofcargoorfuel,neededtoimmerseashiponefurthercentimeter.Thisquantityvariesnotonlyshipbyshipbutalsoaccordingtothequantityalreadyonboard.   TPD–TonsperDay–Thequantityofcargoloadedordischargedeachday.Thetimeallowedbyashipownertoachartererforloadingordischarging,knownaslaytime,isoftenexpressedasanumberoftonsperday.   TPI–TonsperInch –Aquantity,forexampleofcargoorfuel,neededtoimmerseashiponefurtherinch.Thisquantityvariesnotonlyshipbyshipbutalsoaccordingtothequantityalreadyonboard.   TurnRoundTimeorTurnroundorTurnaroundTime–Timebetweenashiparrivinginportandsailing.   TurnTime–Timeduringwhichashipwaitsforaberth.   UBC–Universalbulkcarrier.   UCE–UnforeseencircumstancesexceptedincludingMEBD(Mainenginebreakdown).   UncleanBillofLading–SeedirtyBillofLading.   UU–UnlessUsed–Charter-Partytermwhichprovidesthataproportionnormallyallorhalf,oftimeusedtoloadordischarge,asthecasemaybe,duringexceptedperiodscountsforthepurposeofcalculatingtotaltimeused.   V/C–VoyageCharter–Contractofcarriageinwhichthechartererpaysfortheuseofaship’scargospaceforone,orsometimesmorethanone,voyage.Underthistypeofcharter,theshipownerpaysalltheoperatingcostsoftheshipwhilepaymentforportandcargohandlingchargesarethesubjectofagreementbetweentheparties.Freightisgenerallypaidperunitofcargo,suchaston,basedonareagreedquantity,oraslumpsumirrespectiveofthequantityloaded,thetermsandconditionsofthecontractaresetdowninadocumentknownasCharter-Party.Ashipcharteredinthiswayissaidtobeonvoyagecharter.   VoyageCharter-Party–Documentcontainingthetermsandconditionsofacontractbetweenacharterandashipownerfortheuseofaship’scargospaceforone,ormorethanonevoyage.   VoyageEstimate–Calculationoftheprofitabilityofaprospectivevoyageofashipusingestimatedfigures.Inthecaseofatrampshipowner,theestimateisusedtocomparetwoormorepossiblevoyageinordertodeterminewhichisthemostprofitable.Similarly,atimechartererwouldcomparetwoormoreshipssoastochartertheonethatisleastcostlyoverall.Thecontentofanestimatevanesaccordingtothetypeandtermsofthecharterandwhetherashipownerorchartererismakingthecalculation.Foranowner,theprincipalcostsarerunningcostoftheship(orhiremoneyforatimecharterer),bunkercosts,portchargesandcanalduestogetherwithship’sagencyfeeandanycargohandlingcosts;therevenueisthedailyhire,intheeaseofatimecharter,orthefreight,lessanycommissioninthecaseofavoyagecharter.   WarClause–ClauseinaBillofLadingorCharter-Partywhichsetsoutthecourseofactionopentothemasterofashipintheeventthattheshiporhercargoorcrewwouldbeputatriskbecauseofwarshouldthevoyageproceed.Theclausevariesaccordingtoindividualcontractsbutinvariablythemasterwouldnotberequiredtoputhisshiporcrewatrisk.   Waybill–SeeLinerBill.   WEF–witheffectfrom–Thisissaid,forexample,ofthedatewhenaneworamendedsurchargeofashippinglinetakeseffect.   WIBON–WhetherinBerthorNot–Provisioninavoyagecharterthat,oncetheshiphasarrivedattheportandtenderednoticeofreadiness,ifrequired,laytimewillstarttocountinaccordancewiththeCharter-Partywhetherornottheshiphasreachedtheberth.   WIPON–Whetherinportornot   WIFPON–WhetherinfreePratiqueornot   Withdrawashipfromtheserviceofthecharterer(to)–Toremovecontrolofashipfromthetimechartererfortheremainingperiodofthecharter.Thisactionistakenbytheshipownerinaccordancewiththecharterwhentherehasbeenseriousbreachofcontract,commonlywhenthechartererhasfailedtopayhiremoneyontime.   WOG–WithoutGuarantees.   WorkableHatch–Terminavoyagecharterwhichdeterminesthenumberofdaysallowedforloadingand/ordischarging‘bydividingthequantityofcargointhelargesthatchbythequantityperworkablehatchperdayasstipulatedintheCharter-Party.Difficultiesofinterpretationmayariseinthecalculationoflaytimeallowedwhenexpressedinthisway,particularlyiftheshiphashatchescapableofbeingworkedbytwogangssimultaneously.Alsoreferredtoasaworkinghatch.   WorkableCrane–Terminavoyagechargerwhichdeterminesthenumberofdaysallowedforloadingand/ordischargingbythenumberofcranesavailableforusebythecharterersforoperations.Generallyexpressedintonsperworkablecraneperday.   WorkingDay–Whennormalworkingiscarriedoutinaport.   WorkingDayof24ConsecutiveHours–Workingdayequatestoonelayday.Thewordconsecutivewasintroducedafteritwasruledincourtthataworkingdayof24hoursmightbeconsideredasmorethanonelaydayaccordingtothelengthofnormalworkingtimeeachdayinaport.   WorkingDayof24Hours–Periodoftimewhichcontains24normalworkinghours.Ifitisthecustomofaportthateighthoursrepresentsthenormalworkingtimeperday.thenaworkingdayof24hourswouldbeconsideredasthreelaydays.   WP–WeatherPermitting–Termusedinavoyagechartertosignifythatlaytimedoesnotcountwhenweatherconditionsdonotallowloadingordischargingoperationstobecarriedout.   WTS–WorkingTimeSaved–Charter-Partytermusedtodefineonemethodbywhichdespatchmoneyiscalculated,thatis,bydeductinglaytimeusedfromlaytimeallowed.If,forexample,aCharter-Partyprovidesforsixlaydaysforloadingandthechartererusesthreedays,heisentitledtothreedays’despatchmoney.Alsoreferredtoaslaytimesaved.   WWD–WeatherWorkingDay–Daysonwhichworkisnormallycarriedoutatapodaridwhichcountsaslaytimeunlessloadingordischargingwouldhaveceasedbecauseofbadweather.   WWR–WhenWhereReady–Frequentlyusedprovisioninatimechartertodeterminethetimeandplaceofdelivery/redeliveryofashipbythecharterertotheshipowner.Thistermisqualifiedinsuchawayastomakethetimeandplaceunambiguous.suchasoncompletionofdischargeatanamedport,abbreviatedtow.w.r.c.d.followedbythenameoftheport.   WWRCD–WhenWhereReadyonCompletionofDischarge–seeWWR–whenwherereadyabove. 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